Commodity News

Oil prices rose in early trade on Wednesday, adding to overnight gains, after industry data showed U.S. oil inventories declined more than expected and OPEC raised its outlook for oil demand. Brent crude futures rose 28 cents, or 0.4%, to $63.95 a barrel at 0057 GMT, after climbing 39 cents on Tuesday. U.S. West Texas Read More

Oil rose on Monday amid hopes that fuel demand is picking up in the United States as the summer driving season approaches and the rollout of COVID-19 vaccinations there accelerates, though increasing case numbers in other countries are set to cap gains. Brent was up 25 cents, or 0.4%, at $63.20 a barrel by 0155 Read More

Gold prices rose on Thursday, as yields on longer-term U.S. Treasuries dropped along with the dollar after the Federal Reserve in its latest policy meeting minutes reinforced expectations that interest rates would remain low for some time. Spot gold gained 0.3% at $1,741.85 per ounce. U.S. gold futures rose 0.1% to $1,742.90 per ounce. “Gold Read More

Copper prices were steady at Rs 668.05 per kg on April 1 as participants increased their short positions as seen by the open interest. The base metal traded in the negative territory after a gap-down open, tracking muted global cues. The non-ferrous metal has been trading higher than 50, 100 and 200 days’ moving averages Read More

Oil prices rebounded more than $1 on Monday after the US House of Representatives passed a huge stimulus package, although a drop in China’s February factory activity growth capped gains. Brent crude futures for May rose $1.07, or 1.7 percent, to $65.49 per barrel by 0410 GMT. The April contract expired on Friday. US West Read More

India Gold MCX April Futures are trading in the green on February 16 following positive trend seen in the international spot prices. Silver March Futures were trading higher by nearly 1 percent. On the Multi-Commodity Exchange (MCX), April gold contracts were trading higher by 0.37 percent at Rs 47,418 for 10 grams at 0920 hours. March silver Read More

Oil prices rose to their highest in more than a year on Monday, after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iran-aligned Houthi group, raising fears of fresh Middle East tensions. Hopes for more U.S. stimulus and an easing of coronavirus lockdowns helped support the rally, after Read More