Commodity News

Aramco CEO warns of catastrophic oil market impact from prolonged Iran war

Saudi Arabia is reducing output by as much as 2.5 million barrels a day, joining United Arab Emirates, Iraq and Kuwait in deepening cuts, Bloomberg reported on Tuesday

Indian edible oil buyers move to secure prompt shipments as prices surge

India, which meets nearly two-thirds of its edible oil demand through imports, also buys palm oil from Indonesia, Malaysia and Thailand, with shipments typically reaching its ports in about a week

What is Essential Commodities Act invoked by govt amid LPG shortage?

The Centre has invoked the Essential Commodities Act to prioritise natural gas and LPG supply for domestic, industrial, and vehicular use amid global energy disruptions

Gold price falls ₹10 to ₹1,61,670; silver down ₹100, trades at ₹2,79,900

The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,48,190

Oil falls over 6% as Trump predicts de-escalation in West Asia conflict

Shortly after settlement, prices turned negative following news of a phone call between US President Donald Trump and Russian President Vladimir Putin

West Asia conflict: With crude at $100, OMCs to face margin pressure

The retail prices of petrol and diesel currently stand at ₹94.77 per litre and ₹87.67 per litre, respectively, in Delhi, compared to ₹110.04 per litre and ₹98.42 per litre, respectively, in Nov 2021

Qatar LNG pause may flip global supply surplus into deficit: Morgan Stanley

Analysts at Morgan Stanley said that if the LNG outage in Qatar extends beyond a month, the global LNG market forecast could quickly swing from surplus to deficit

Aluminium hits near four-year high as Iran war fuels supply fears

Aluminum rose as much has 1.6 per cent to $3,499.50 a ton, the highest since April 2022, on the London Metal Exchange, following a gain of almost 10 per cent last week

Gold price dips ₹10 to ₹1,63,630; silver falls ₹100, trading at ₹2,84,900

The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,49,990

Gold slides to near $5k as oil surge stokes fears of higher interest rates

Bullion fell as much as 2.5 per cent to below $5,050 an ounce in early trading, after its first weekly decline in more than a month

Gold price dips ₹10 to ₹1,61,120, silver down ₹100, trades at ₹2,84,900

The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,47,690

Indian refiners seek legal clarity on buying Russian oil under US waiver

The US on Thursday allowed Indian refiners a 30-day waiver from sanctions to buy Russian oil loaded on vessels as of March 5. Approval related to Russia's oil sale to India is valid until April 4

India's fuel demand slips month-on-month in February, rises annually

Indian refiners have been buying Venezuelan oil to diversify their supply mix as they reduce Russian oil imports, a move that helped New Delhi clinch an interim trade deal with Washington

Gold outlook: Analyst holds mildly bearish stance; $5k make-or-break level

Gold price outlook: Gold is caught between safe haven demand support and selling coming on a firmer US Dollar

Stronger dollar, lower China GDP forecast weakens Silver outlook: Analyst

Silver price outlook: Silver faces selling pressure amid strong US data, firm dollar and rising yields. The metal may test $77 support if weakness continues, said Mirae Asset Sharekhan analyst

Gold price falls ₹10 to ₹1,62,870; silver down ₹100, trades at ₹2,84,900

The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,49,290

Gold prices up on safe-haven rush, but dollar strength restrains rally

Spot gold was up 0.5 per cent at $5,166.3 per ounce as of 1800 ist, while US gold futures for April delivery were up 0.7 per cent at $5,168.20

Oil prices rise as West Asia crisis chokes off vital oil, gas supply

Brent crude was trading up $1.67, or 2.05%, at $83.07 per barrel by 0141 ‌GMT. US West Texas Intermediate crude rose $1.94, or 2.60%, to $76.60

Gold rises over 1% as US-Israel strikes on Iran boost safe-haven demand

Spot gold gained 1.6 per cent to $5,168.69 per ounce as ‌of 0249 GMT while US gold futures for April delivery added 1.1 per cent to $5,178.40

Gold price falls ₹10 to ₹1,67,610; silver down ₹100, trades at ₹2,94,900

The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,53,640