|The Financial ExpressCommodities – The Financial Express|
|Oil prices ease on expectation that OPEC will raise output|
Brent crude futures were at $74.09 per barrel at 0029 GMT, down 26 cents, or 0.4 percent, from their last close.
|Gold scales one-week peak as equities and dollar ease|
Spot gold was up 0.2 percent at $1,276.93 per ounce as of 1:38 p.m. EDT (1738 GMT) after hitting $1,282.38, the highest since April 16.
|India’s crude oil production drops 4 percent in FY19|
Indian refineries produced 2 per cent higher fuel and other petroleum products at 257.2 million tonne in 2018-19 on a better showing by state-owned firms.
|Oil dips on soaring US supply, but Iran sanctions still support crude|
Oil prices dipped on Thursday as record U.S. output and rising crude stockpiles dampened the impact on markets of tighter U.S. sanctions on Iran and producer club OPEC's continued curbs on supply.
|Oil imports: Mangalore refinery to explore US oil for supplies beyond Iran|
“Going forward, we will explore import options from the US by evaluating the economics of handling US crude,” said M Venkatesh, managing director at MRPL, adding that all options are open and the company will opt for the most viable option.
|Agriculture prices to fall 2.6% this year, says World Bank|
Says estimated to rebound in 2020 due to lower crop production and higher costs for energy and fertilisers
|Gold prices inch up off 4-month low, still pressured by strong dollar|
Spot gold was up 0.3 percent to $1,276.50 per ounce as of 1:35 p.m. EDT (1735 GMT), a day after hitting its lowest since Dec. 26 at $1,265.90.
|Iran will continue to find buyers for its oil, says Javad Zarif|
The US had told India and other countries to cut oil imports from the Gulf nation to "zero" by November 4 last year or face sanctions. However, Washington had granted a six-month waiver from sanctions to eight countries - India, China, Greece, Italy, Taiwan, Japan, Turkey and South Korea.
|Saudi says no immediate plan to boost oil output as Iran waivers end|
Falih said that while the kingdom had no immediate plans to boost output, Riyadh was committed to balancing the oil market.
|Crude oil prices to fall, remain soft in 2019, never mind US sanctions on Iran|
China has been importing significantly more oil from Iran than allowed under its waiver, and could continue doing so, said the report.
|Gold prices to remain higher in 2019, says World Bank; here are 2 key factors|
Gold prices are expected to remain higher by 3.2 per cent this year on account of strong demand and an extended pause in interest rate hikes by the US Federal Reserve.
|EXPLAINED: Why Iran oil is important for India and why stopping it means big trouble|
No supply of oil from Iran would mean sourcing the same from other countries which may not provide the same benefits as provided by Iran in the form of price and credit facility, said the report.
|Crude prices: Oil sets new high as ‘non-committal’ Saudis sow doubt|
Oil climbed to the highest settlement price in almost six months as Saudi Arabia was said to be tentative about raising output to mute the impacts of American sanctions against Iran, one of OPEC’s largest producers.
|Maharashtra gears up for new kharif season with 2.25-crore BT cotton seed packs|
Though fears are being expressed about farmers possibly shifting to soyabean and maize as options, the state government has planned for a possible kharif crop of 40-41 lakh hectares.
|Copper exports plunge 69% in FY19 on Sterlite unite closure: Exporters’ body|
ressing the marked drop in exports and the need to prevent import of inferior/hazardous quality of copper scraps into India, the Council has urged the Union government to bring in a copper scrap policy immediately.
|Iran oil sanctions: India assures adequate crude supply to country’s refiners|
Analysts warn a ban on imports from the Persian Gulf nation to increase CAD.
|India extends ban on import of milk products from China|
The ban was first imposed in September 2008 and extended subsequently from time to time. The latest ban imposed by the government ended Tuesday.
|Gold prices fall by Rs 100 today; key reasons|
Gold prices on Monday fell by Rs 100 to Rs 32,770 per 10 grams in Delhi tracking weak demand from local jewellers and muted trend overseas.
|India to stop importing oil from Iran; make up lost volumes from alternate sources|
India was the second biggest buyer of Iranian crude oil after China. It bought some 24 million tonnes of crude oil from Iran in the fiscal ended March 31 (2018-19).
|How Donald Trump’s move to end Iran oil waiver may hurt India|
Even as India downplays the recent move by the US asking it to stop buying Iranian oil, the economy may be up for more shocks going ahead, analysts said.
|Petrol, diesel prices remain stable despite soaring global oil prices, thanks to Elections|
Despite the surge in global oil prices, state-run oil marketing companies (OMCs) have kept the retail prices of petrol and diesel stable across major cities on Tuesday
|Ginger output likely to be higher in 2019-20|
Wayanad and surrounding areas in Kerala, which accounted for bulk crop in the 90s, have seen ginger farming coming down rapidly due to labour shortage and higher input cost.
|US to ask India, China and 3 others to end completely Iranian oil imports, says report|
The move which is seen as an escalation of the US President Donald Trump administration's "maximum pressure" on Iran comes after it last year gave temporary 180-days waiver to eight countries, including India, China and Japan among others.
|Dollar firm in thin post-holiday trade, loonie up as oil prices jump|
The dollar edged up against key peers such as the euro and the yen on Monday, boosted by the relative strength of the U.S. economy, while losing ground against the Canadian dollar following a rise in crude oil prices. Financial markets in Australia, Hong Kong and many major countries in Europe are closed on Monday […]
|Tightening the Noose: US to Eliminate Iran Oil Waivers After May 2|
The decision not to renew the waivers is a victory for National Security Advisor John Bolton and his allies who had argued that U.S. promises to get tough on Iran were meaningless with waivers still in place.
|Oil prices rise on report U.S. will end all Iran oil sanction waivers|
The report comes amid an oil market that is already relatively tight.
|Gold steadies near 4-month low as dollar gains in wake of U.S. data|
Businesses across the eurozone stumbled into the second quarter as demand remained weak despite more modest price rises, surveys showed on Thursday.
|Donald Trump’s LNG push helping power German green cruise liner boom|
The International Maritime Organization will clamp down next year on sulfur and carbon emissions from diesel-powered ships.
|Cotton body seeks clarity on crop production figures|
The highly remunerative kapas prices during the current year would induce the Indian farmers to shift to cotton.
|Gold loses shine: Yellow metal import falls in FY19; key reasons|
In what may cap current account deficit, the gold imports fell by nearly three per cent in value terms FY19, data from the commerce ministry showed.
|PM-Aasha: Govt procurement of pulses and oilseeds touched only about 5% of target under the scheme|
While on the face of it this seems to have cast a shadow over the efficacy of the scheme, government officials claim that the renewed government commitment to make market intervention under PM-Aasha itself will help push up market prices and will eventually benefit farmers.
|Sugar technologists seek hike in MSP to Rs 3,600/quintal|
The Sugar Technologists Association of India ( STAI) has suggested that the government should set the minimum support price (MSP) for the sweetener to Rs 3,600 per quintal from Rs 3,100 per quintal to help millers overcome the financial crisis.
|Oil prices extend losses despite surprise drop in U.S. inventories|
U.S. West Texas Intermediate (WTI) crude futures were at $63.67 per barrel, down 9 cents, or 0.1 percent, from their previous settlement. WTI closed the last session down 0.5 percent.
|Nafed begins procurement of onion from Lasalgaon|
Nafed is to procure some 50,000 tonne onions, which includes 45,000 tonne from Maharashtra and 5,000 tonne from Gujarat. This is expected to be Nafed's largest procurement from Maharashtra, so far.
|Indian oil refiners turn to Opec, Mexico to make up for Iran loss|
IOC, Iran’s biggest Indian client, will cut Iranian oil imports to 6 million tonne, or about 1,20,000 barrels per day, in the 2019-20 period from 9 million in 2018-19, and has raised the optional volumes it can buy from other producers to 2 million tonne, a company official said.
|Oil on boil: Brent crude hits high of 2019; key factors behind surge|
Hitting a 2019 high, brent crude on Wednesday reached above $72 level on account of robust China growth numbers and decline in US crude stocks, even as global supply remained tight.International benchmark Brent crude futures were up 20 cents, or 0.28 percent, at $71.92 by 1320 GMT, having hit an intraday peak of $72.27, Reuters […]
|Gold loses sheen: Yellow metal at near 4-month low as China GDP fuels risk|
Gold prices stayed below the key $1,280 level on Wednesday, near a four-month trough, as better-than-expected economic readings from China lifted Asian shares and sharpened risk appetite, denting the metal's safe-haven appeal.
|Cotton yield may touch new low but not a cause of concern: CITI|
Accordingly, CITI has revised crop estimates for 2018-19 based on the actual data from cotton-growing areas in the country to 343 lakh bales of 170 kgs.
|Steel sector to have good scenario in current year and the next|
The recent repo rate cut by the Reserve Bank of India to 6.0% has been favourably commented by ADB and is likely to enable more investment flow into the economy and would also help private consumption.
|Gold falls to 1-week low as China’s data boost equities; slowdown fears ease|
Gold prices fell to a more than one-week low on Monday as solid Chinese data boosted equities and allayed concerns about a global economic slowdown.
|Gold slips to 1-week low as global slowdown fears ease|
Hedge funds and money managers increased their bullish wagers in COMEX gold and silver in the week to April 9, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.
|Maharashtra APMC’s income down 50 per cent — what triggered the fall|
Market committee officials pointed out that the bumper crop this year has led to huge arrivals in the market leading to a fall in prices.
|NAFED to procure 20 lakh tonne each of pulses, oilseeds from farmers at MSP rate|
NAFED will buy pulses and oilseeds on behalf of the government to provide MSP to farmers, he said, adding that the co-operative has made arrangements of funds to carry out this procurement operations.
|Gold prices steady after steep fall, biggest daily decline in two weeks|
Spot gold was up about 0.1 percent at $1,293.19 per ounce as of 0123 GMT, after slipping more than one percent on Thursday.
|Oil prices firm amid OPEC supply cuts, US sanctions on Iran and Venezuela|
Oil markets have been pushed up by more than a third this year by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC), U.S. sanctions on oil exporters Iran and Venezuela, and escalating fighting in Libya.
|Reliance, Nayara, Total seek to be part of LPG subsidy transfer mechanism|
Ask the government to allow them to have a level playing field with the state-run oil marketing companies.
|Cotton price to go up on lower output forecast|
The cotton price will increase further in the current season on the back of recent revised production estimates.
|No end in sight for petrol, diesel price hike? Crude oil price may soar, says top brokerage|
With Brent touching five-month high on Monday, Goldman Sachs has raised its crude oil price forecast for this year, in what could worry for the Indian government and consumers alike, who may have to face a higher inflation and rising fuel prices at home. Brent crude oil price has been on continuous rally owing to […]
|Gold trades near 2-week high on dovish central banks|
Spot gold was flat at $1,307.91 per ounce as of 0110 GMT, after touching its highest since March 28 at $1,310.50 in the previous session.
|Oil prices dip on surging US crude stockpiles|
U.S. crude oil production remained at a record 12.2 million barrels per day (bpd), making the United States the world's biggest oil producer ahead of Russia and Saudi Arabia.
|No more tears: Nashik onion growers start getting govt subsidy|
Modal prices of summer onions had dipped below Rs 170 per quintal due to the glut in the market.
|Oil price rises amid OPEC supply cuts, US sanctions|
Both benchmarks hit five-month highs on Tuesday, before easing on global growth worries and concerns about a rise in Russian supplies.
|India delays May order for Iran oil, awaits clarity on sanctions waiver, say sources|
Iran's president Rouhani said Tehran will resist U.S. pressure and hailed IRGC as defenders of Iranians.
|Golden goose: Govt reaps bonanza by selling 9,000 kg gold it got in monetisation scheme|
The state-run trading firm MMTC has auctioned more than 9,000 Kgs of gold garnered under medium term and long term government deposit schemes of gold monetisation scheme.
|Gold holds near one-week high on subdued dollar, equities|
Gold inched higher on Tuesday, trading just below a more than one-week peak hit in the previous session, as Asian equities eased and the dollar weakened following sombre U.S. economic data.
|Oil prices hit highest in 5 months as Libya fighting tightens supply|
International benchmark Brent futures touched their strongest level since last November at $71.34 per barrel on Tuesday, and were still at $71.16 at 0057 GMT, up 6 cents, or 0.1 percent, from their last close.
|India has nearly 10 times gold as Pakistan; check top 10 countries countries by gold reserve|
While India’s penchant for yellow metal gold is well-known, the country’s bullion reserves at a whopping 607 tonnes is far ahead of Pakistan.
|Gold treads water as solid US jobs data lifts risk assets|
Gold was little changed on Monday as strong U.S. jobs data boosted investors' appetite for riskier assets, with markets awaiting minutes of the Federal Reserve's March meeting later this week.
|Oil hits November 2018 highs amid OPEC supply cuts, US sanctions|
Oil prices rose to five-month highs on Monday, driven up by OPEC's ongoing supply cuts, U.S. sanctions against Iran and Venezuela and healthy U.S. jobs data.
|Maharashtra targets to export 2,500 tonnes of Alphonso, Kesar mangoes|
The board had been holding regular workshops with both farmers and buyers to encourage exports, he said, adding that the board had taken huge efforts to ensure that more mango growers register their orchards with MangoNet.
|Petrol price today: Fuel prices increase by 5 paise in Delhi, Mumbai, Kolata and Chennai|
Fuel prices increased mildly today on April 5 across Delhi, Mumbai, Kolkata and Chennai after the oil marketing companies hiked fuel prices by 5 paise.
|Gold steadies above 10-week low; focus on US jobs data|
Gold was little changed on Friday, having slid to its lowest level in 10-weeks in the previous session as the dollar strengthened ahead of the U.S. nonfarm payrolls data due later in the day.
|Oversupply prompts tea growers to bring small holders under export chain|
Oversupply of tea has led to drop in CTC prices by `30 a kg this year at the farm gate, although Orthodox prices were higher by `30 a kg this year, driven by higher demand for exports. “ We are carrying a 70 to 90 million tonne of excess tea production above the 50 MT […]
|Oil prices fall, Brent drops away from $70|
U.S. West Texas Intermediate (WTI) crude was down 2 cents at $62.08. The contract fell 36 cents in the previous session, having hit hit $62.99 on Wednesday, its highest since November.
|Gold edges higher as dollar eases, equities rally pauses|
Gold prices inched up on Thursday as the dollar eased and a rally in equities paused, while investors kept a close watch on Sino-U.S. trade talks.
|Oil prices edge lower after US inventories build|
Oil prices dipped on Thursday, with Brent edging away from the psychologically important $70 level after easing in the previous session on data showing a surprise build in U.S. inventories.
|Relief for Maharashtra farmers; grape exports surge 20% this season|
Exports are likely to surpass the previous year's level as there is a rise in the output of export-quality grapes this year, following conducive weather in key growing areas of Maharashtra.
|On a high: Ethanol makers look to substitute 7.2% of petrol usage|
Previously, the best ever achieved was last year, when contracts for 160 cr l were signed and 150 cr l of ethanol was supplied in the 2017-18 ethanol supply period. Average all-India ethanol blending with petrol achieved in 2017-18 was 4.22%, it added.
|Solvent extractors’ body seeks 5 pct cess on import of RBD Palmolein|
In response to this, the Solvent Extractors Association of India (SEA) has sent a memorandum to the Centre, requesting the government to impose 5% cess on the import of RBD Palmolein to safeguard the interest of domestic farmers and vegetable oil refiners.
|Mahanagar Gas to hike prices of CNG and PNG from April 4|
Accordingly, revised delivered prices inclusive of all taxes of CNG and PNG in and around Mumbai will be Rs 51.57 per kg and Rs 31.53 per SCM (slab 1) and Rs 37.13 per SCM (slab 2) respectively.
|Gas price hike may give temporary relief to gas producers|
"The increase in domestic gas price is in line with the rise in global gas indices primarily Henry Hub over the reference period and takes the price to its highest level in two and a half years. However, with prices of gas at various international hubs falling again, the domestic gas price increase looks likely to be reversed in H2 FY20," it said.
|Gold inches lower as equities hover near 7-month peak|
Gold prices slipped on Wednesday, after touching their lowest level in four weeks in the previous session, as equities traded near a seven-month high, denting bullion's appeal.
|Oil rises for fourth day, shrugs off inventory build|
Oil prices rose for a fourth day on Wednesday, holding firm despite an industry report showing that U.S. inventories rose unexpectedly last week, with supply cuts and sanctions supporting the market.
|Maharashtra sugar output likely to equal last year’s record of 107 lakh trillion|
Last year, the state’s sugar production was 107 lakh tonne, which was considered a record production in the state.
|India, China to drive LNG demand in Asia for the next 15 years|
"China, along with India, will continue to lead Asia as the main drivers behind the growth of global LNG demand," Al-Kaabi said at the conference, according to a press release later issued by Qatar Petroleum.
|Jeera prices rally on back of robust domestic, export demand|
Angel also added export of jeera is up 20.8% year-on-year in January at 9,429 tonne, against 7,800 tonne last year, while for April-January, exports rose 24.75% to 1.46 lakh tonne , compared to last year.
|Gold near 3-week lows as dollar, equities rise|
Gold inched up on Tuesday, but was trading near a more than three-week low touched in the previous session as the U.S. dollar strengthened and equities rose.
|Oil rises on Iran sanctions threat, Venezuela shutdown|
Oil prices rose to fresh highs for the year on Tuesday, after a U.S. official said Washington is considering more sanctions on Iran and a key Venezuelan export terminal halted operations.
|Demand in Asian region driving global steel growth|
While India needs to enhance its steel exports, meeting the domestic demand should be the basic determinant of capacity augmentation efforts.
|ATF price hiked by 1 per cent, non-subsidised LPG by Rs 5|
The price of Aviation Turbine Fuel (ATF) was hiked by Rs 677.1 per kilolitre, or 1.07 per cent, to Rs 63,472.22 per kl in the national capital, according to price notification issued by state-owned oil firms. The increase comes on the back of a steep 8.1 per cent (Rs 4,734.15 per kl) hike in rates effected on March 1.
|Gold slips as equities gain on trade talk progress, China data|
Gold prices inched down on Monday as investor appetite for riskier assets improved on signs of progress in Sino-U.S. trade negotiations and better-than-expected Chinese economic data.
|Oil prices rise, adding to biggest quarterly gain in 10 years|
Oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy.
|CCI starts sale of cotton procured under MSP|
P Alli Rani, chairman-cum-managing director of CCI, confirmed the development, stating the government agency had sold around 10,000 bales at a price of Rs 47,000 per candy through e-auctions in Maharashtra and Telangana.
|Oil prices on the rise: Crude set for biggest quarterly rise since 2009 amid OPEC cuts|
Oil prices have been supported for much of this year by an agreement between the Opec and allies such as Russia to cut output by around 1.2 million barrels per day.
|Cooking gas, CNG bills set to rise as natural gas gets costlier from next week|
In what may inflate the domestic cooking gas and CNG bills, the government on Friday hiked the natural gas prices by nearly 10 per cent for the next six month period.
|Gold loses sheen, faces worst month in eight|
Spot gold was down about 0.1 percent at $1,288.74 per ounce by 0507 GMT, after declining about 1.5 per cent in the previous session, the most in over seven months.
|Gold edges up after steep fall; palladium faces worst week since end-2015|
Gold inched up on Friday, but was on track for its first weekly decline in four weeks after posting its steepest fall in more than seven months in the previous session on a strong dollar.
|Oil prices rise amid OPEC’s ongoing supply cuts, US sanctions|
Oil prices rose on Friday, pushed up by ongoing supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela, which have given crude markets the biggest first quarter price push since 2009.
|Price pressure: Maharashtra sugar millers warned against selling below MSP|
As of March 15, sugar mills have paid Rs 14, 881.01 crore of the Rs 20,653.02 crore they owed to farmers
|Oil near flat, shrugs off Trump calls for OPEC to boost output|
Oil prices have risen more than 25 percent this year, with WTI heading for the biggest first quarter gains since 2002 and for both benchmarks the best quarterly gain since 2009.
|Gold prices rise by Rs 35, close at Rs 33,095 per 10 gram|
Silver, however, dropped Rs 270 to Rs 38,850 per kg amid lower demand from industrial units and coin makers.
|Oil extends losses into second session as US stocks rise|
Oil prices fell on Thursday, extending losses into a second straight session, after widely watched data showed a surprising increase in U.S. stocks.
|Milk set to get costlier; Rs 1-2 per litre hike on anvil as production slows down|
The price change may affect various milk-based products such as ice creams, butter, cheese, yoghurt, ghee and flavoured milk among others.
|India produces 8.74 MT crude steel in February: World Steel Association|
The crude steel production for the 64 countries reporting to the worldsteel was 137.27 MT in February, a 4.1 per cent increase compared to 131.92 MT in February 2018, the association said in its latest report.
|Gold gains on soft equities, US data|
Gold inched up on Wednesday, after falling the most in nearly two weeks in the previous session, as share markets retreated on worries about a possible U.S. recession and weak data added to concerns about the economy.
|As sugar season draws to a close, 122 mills end crushing ops in Maharashtra|
Last season, 41 factories had completed operations during the same period, and had crushed 872.2 lakh tonnes to produce 96.91 lakh tonnes of sugar with a recovery rate of 11.11%.
|Whopping 85% tax rate on petrol if it comes under GST, but govt must do it anyway|
Although the move has not been made yet due to lack of consensus between centre and states on revenue sharing, some experts feel the issue should we resolved soon as it may benefit both industry and consumers.
|Losing sheen: Gold prices ease as equities, U.S. bonds gain|
Spot gold was down 0.2 per cent at $1,319.86 per ounce as of 0426 GMT, after touching its highest since Feb. 28 at $1,324.33 in the previous session.
|Oil prices rise amid supply cuts, but economic slowdown looms|
Prices have also been driven up by U.S. sanctions on oil exporters and OPEC-members Iran and Venezuela.
|Gold near one-month peak as yields, equities slide|
U.S. gold futures were also down 0.1 percent at $1,320.70 an ounce.