Commodity News

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

Iran war boosts gold, silver appeal; Tata MF advises staggered buying

Tata Mutual Fund advises staggered investment in gold and silver as the Iran conflict fuels geopolitical uncertainty and strengthens safe-haven demand

Gold price climbs ₹10 to ₹1,62,390; silver up ₹100, trades at ₹2,90,100

The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,48,860

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