Commodity News

OIS rates surge, indicating policy tightening if oil prices remain elevated

Sharp rise in OIS rates suggests markets are pricing in possible RBI rate hikes this year if elevated crude oil prices sustain inflationary pressures

Crude futures rise to ₹9,171/barrel on strong global cues; Brent hits $106

On the Multi Commodity Exchange (MCX), crude oil for March delivery increased by ₹119, or 1.31 per cent, to ₹9,171 per barrel in a business turnover of 12,745 lots

Silver futures slide ₹4,232 to ₹2.55 lakh/kg on weak demand, strong dollar

On the Multi Commodity Exchange, the white metal for the May delivery declined by ₹4,232, or 1.63 per cent, to ₹2,55,203 per kilogram in a business turnover of 5,787 lots

Gold price falls ₹10 to ₹1,59,650; silver down ₹100, trades at ₹2,74,900

The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,46,340

Gold wavers near $5,000 as West Asia war fuels market uncertainty

Gold steadied after dropping for a second straight week, under pressure from rising energy prices and inflationary concerns arising from the US-Israeli war with Iran

Emergency stocks of oil will soon start flowing to global markets: IEA

IEA announced that it will make 400 million barrels of oil available from members' emergency reserves - more than double the 182.7 million barrels that the IEA's 32 countries released in 2022

LPG shortage: PNGRB asks city gas firms to speed up piped gas line rollout

Petroleum regulator advises city gas distributors to prioritise household PNG connections and accelerate pipeline expansion to reduce pressure on LPG supply chains

Gold price dips ₹10 to ₹1,60,680; silver falls ₹100, trading at ₹2,79,800

The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,47,290

Gold set for weekly drop as oil price surge weighs on rate-cut hopes

As oil prices surged, US President Donald ​Trump again demanded Fed Chair Jerome Powell cut interest rates

No Fed rate cut, Dollar rally may keep gold prices under pressure: Analyst

Rising oil prices and a stronger dollar are limiting gold's safe-haven appeal as markets reassess Fed rate cut expectations

Silver to remain choppy as Iran war lifts oil prices, US dollar demand

Silver prices are expected to remain volatile as surging oil lifts the dollar and reduces Fed rate-cut hopes, while Iran war tensions keep markets on edge

Gold price falls ₹10 to ₹1,62,210; 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 ₹1,48,690

Iran clears Indian-flagged tankers to transit Strait of Hormuz: Sources

Iran will allow Indian-flagged oil tankers to pass through the Strait of Hormuz after talks with External Affairs Minister S Jaishankar, sources said

Explained: Why India faces LPG shortage amid ongoing West Asia war

India relies heavily on LPG imports from West Asia routed through the Strait of Hormuz. The ongoing conflict has forced the Centre to divert domestic output to protect households

Brent tops $100 as Iran attacks tankers in Iraq, Oman clears oil terminal

The global benchmark soared as much as 10.5 per cent to $101.59 a barrel, while West Texas Intermediate surged near $96

Gold price climbs ₹10 to ₹1,63,320; silver down ₹100, trading at ₹2,89,900

The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,49,710

India's Russian oil buy surges 50% amid scramble to replace lost barrels

India bought about 1.5 million barrels of Russian oil this month, up from 1.04 million bpd in February, ship tracking data showed

Gold declines ₹853 to ₹1.62 lakh/10g amid global bearish sentiment

According to the Multi Commodity Exchange, the yellow metal for April delivery depreciated by ₹853, or 0.52 per cent, to ₹1,62,450 per 10 grams in a business turnover of 7,529 lots

Gold edges above $5,000 as inflation jitters ease; key US data in focus

Oil prices dropped below $90 per barrel, cooling inflation concerns, a day after US President Donald Trump predicted a quick end to the war with Iran

IEA floats proposal for largest-ever oil release amid West Asia conflict

IEA members are considering a record release of oil from strategic reserves to stabilise global markets as the West Asia conflict disrupts supply and triggers sharp volatility in crude prices