2021

Crude oil futures were steady at Rs 3,863 per barrel on January 14 as participants increased their long position as seen by the open interest. The crude oil prices had declined 0.6 percent on January 13 on the NYMEX. The US Energy Information Administration (EIA) reported that US crude inventories fell for the fifth straight Read More

Gold prices edged up on Wednesday as the dollar pulled back and the U.S. Treasury yields traded lower, while the outlook of a massive U.S. fiscal stimulus further boosted the metal’s appeal as an inflation hedge. Spot gold rose 0.2% to $1,858.56 per ounce by 0255 GMT, while U.S. gold futures gained 0.9% to $1,860.10. Read More

Crude gained 8 percent last week – Saudi Arabia plan a voluntary output cut;• President-elect Joe Biden to layout stimulus plans this week; • EIA showed large bullish draw to crude oil inventories by the end of 2020. Perspective Oil ended the first week of 2021 with a gain of nearly 8 percent as OPEC leader Read More

Crude oil futures were steady at Rs 3,799 per barrel on January 11 as participants increased their long position, as seen by the open interest. Crude gained 7.42 percent in the previous week on the MCX to surge over 10-month high. The demand increased after lockdown, as many countries allowed travel in the festival season Read More

Oil prices edged higher on Friday, hovering near 11-month highs hit the previous day, as Saudi Arabia’s pledge to make voluntary cuts to its output continued to buoy the mood in the market though worries over slower fuel demand capped gains. Brent crude climbed 2 cents to $54.40 a barrel by 0122 GMT, after closing Read More

Natural gas futures dropped to Rs 197.2 per mmBtu on January 7 as participants increased their long positions as seen by the open interest. Natural gas price had gained 0.52 percent yesterday on the NYMEX. Natural gas prices extended decline in the afternoon session after a gap down opening and traded near day’s low. Natural Read More

Oil prices were little changed on Tuesday after OPEC and allied producers, including Russia, continued deadlocked talks on February output while fuel demand concerns lingered on amid new COVID-19 lockdowns. Brent crude futures for March rose 8 cents, or 0.2%, to $51.17 a barrel by 0206 GMT, while U.S. West Texas Intermediate crude for February Read More

Natural gas futures surged to Rs 191.30 per mmBtu on January 4 as participants increased their long positions as seen by the open interest. Natural gas price had declined Rs 2.10 or 1.12 percent last week on the MCX. The number of rigs drilling natural gas in the US was unchanged at 83 rigs for Read More

Gold prices soared by Rs 231 to Rs 50,202 per 10 gram in the Mumbai retail market on a softer dollar and positive global cues. The precious metal surged 27.94 percent in the domestic market this year – the best in a decade – after gaining 23.75 percent last year. The yellow metal price was Read More