Commodities

OPEC+ to hold virtual meeting Monday as Trump pushes for cut

April 3, 2020 1:53:44 pm

The guest list is crucial as Saudi Arabia has made clear it will only cut production if others, including the US, shoulder some of the burden. Saudi Arabia called for the meeting, saying it should aim for a “fair agreement.”

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Oil falls on scepticism over Trump’s Saudi-Russia output deal

April 3, 2020 12:35:26 pm

Brent crude futures fell 3.27%, or 98 cents, to $28.96 per barrel as of 0335 GMT, after having soared 21% on Thursday.

Gold slips as dollar holds firm; US jobs data awaited

April 2, 2020 10:57:54 am

Spot gold fell 0.4 per cent to $1,584.50 per ounce by 0312 GMT, after rising 1.2 per cent on Wednesday. US gold futures rose 0.4 per cent to $1,597.20 per ounce.

Oil jumps as Trump talks up truce hopes for Saudi-Russia price war

April 2, 2020 10:21:07 am

Brent crude futures rose 5.9 per cent, or $1.46, to $26.20 as of 0418 GMT, while US West Texas Intermediate (WTI) crude futures were up 4.6 per cent or 94 cents, at $21.25.

Coronavirus outbreak: Crude oil prices rises as OPEC, allies work on big cut as demand slumps

Oil prices fall as US inventory build-up heightens oversupply concerns

April 1, 2020 11:33:46 am

As of 0345 GMT, Brent crude was down by 47 cents, or 1.8%, at $25.88 a barrel. US West Texas Intermediate crude was up 12 cents, or 0.6%, at $20.6 a barrel, an uptick analysts said was driven by position building at the start of a the new quarter.

Oil rebounds from 18-year lows after US, Russia agree to talks

March 31, 2020 11:21:40 am

Brent crude was up by 43 cents, or 1.9%, at $23.19 a barrel by 0406 GMT, after closing on Monday at $22.76, its lowest finish since November 2002.

Edible oil demand likely to decline during March-April amid COVID-19 lockdown, says SEA

March 30, 2020 3:22:32 pm

Edible oil imports and processing activities have also slowed down, but there is sufficient stock in the country to meet domestic demand, Solvent Extractors' Association of India (SEA) Executive Director B V Mehta told PTI.

Crude oil futures drop as pandemic darkens demand outlook

March 30, 2020 11:09:23 am

US West Texas Intermediate (WTI) crude futures fell as far as $19.92, near an 18-year low hit earlier this month, and was last trading down 5.4%, or $1.17, at $20.34 a barrel.

Coronavirus effect: Exchanges cut trading hours for commodity trading till 5 pm

March 26, 2020 5:43:13 pm

Commodity markets trade between 10 am to 11.50 pm, while equity markets close at 3.30 pm.

India’s oil production in February dips 6.4 per cent on lower private sector output

March 25, 2020 6:39:47 pm

Crude oil production at 2.39 million tonnes in February was 6.41 per cent lower than 2.56 million tonnes output in the same month a year back, according to official data released by the oil ministry here.

Crude oil futures firm up on overseas cues

March 25, 2020 4:55:34 pm

On the Multi Commodity Exchange, crude oil for delivery in April traded higher by Rs 103, or 5.5 per cent, to Rs 1,976 per barrel in 27,659 lots.

Oil jumps 5% to over $28 on Fed steps to support economy

March 24, 2020 5:01:11 pm

Brent crude was up by $1.44 a barrel, or 5.3%, to $28.47 by 0926 GMT. The global benchmark fell to $24.52 on Wednesday, its lowest level since 2003.

Gold rises as Fed bonanza stalls cash rush

March 24, 2020 1:18:28 pm

Spot gold rose 1.3% to $1,572.45 per ounce by 0637 GMT. The metal rose 3.7% on Monday, its highest percentage gain since June 2016. US gold futures climbed 1.9% to $1,596.70.

Oil extends gains after Trump hints at intervening in Saudi-Russia price war

March 20, 2020 10:56:44 am

Prices were also supported by United States' plans to buy oil for its emergency stockpile, while regulators in the country's largest oil-producing state Texas were reportedly considering curtailing production.

Oil pares gains as investors wait to see if coronavirus stimulus works

March 19, 2020 10:41:20 am

While oil investors try to get a grip on the demand shock from the pandemic, supply keeps flowing into the market as major producers fight for market share

Gold futures ease on weak global cues

March 17, 2020 1:34:05 pm

On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 477, or 1.21 per cent, to Rs 39,041 per 10 gram in a business turnover of 4,662 lots.

Gold prices dive Rs 1,097 per 10 gram, silver crashes by Rs 1,574 a kg

March 13, 2020 6:16:29 pm

Spot gold for 24 karat in Delhi was trading lower by more than Rs 1,000 on rupee appreciation, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Coronavirus pandemic, US-China trade negotiations to keep base metal prices low in near term

March 12, 2020 1:04:33 pm

Prices may gradually improve as the pandemic is contained and the second phase of US-China trade negotiations is concluded, India Ratings and Research (Ind-Ra) said in a statement.

Oil slumps 6% as US bans travel from Europe over coronavirus pandemic

March 12, 2020 11:01:34 am

Oil is down around 50% from highs reached in January.

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After six days of fall, retail fuel prices stay unchanged

March 12, 2020 6:44:11 am

Oil marketing companies (OMCs) had reduced the retail price of petrol by Rs 1.72 to Rs 70.29 and that of diesel by Rs 1.69 to Rs 63.01 in the national capital in the past fortnight.