Page 197 - Commodity News

Petrol prices cut by 12 paise a litre, diesel declines by 14 paise

Petrol in Delhi now costs Rs 69.75 per litre, while diesel is priced at Rs 62.44, according to a price notification of state-owned oil firms

Jewellers squeezed over advance tax payments, sparse consumer interest

Customers are not buying gold though prices are now falling

UP targets rabi wheat procurement of 5.5 mn tonnes at Rs 1,925/quintal MSP

State allows purchase from share croppers, contract farmers; last year it could log only 3.8 MT of wheat compared to seasonal target of 5.5 MT

Excise duty on petrol, diesel up by Rs 3 per litre as oil prices decline

Special excise duty on petrol was hiked by Rs 2 to Rs 8 per litre and to Rs 4 in case of diesel

Gold set for biggest weekly drop in nearly 7 years amid Coronavirus scare

Spot gold was down 0.9%. For the week, it was down about 6.7% - the biggest since June 2013.

Commodities outlook & stock picks by Tradebulls Sec: Sell silver, aluminium

Equity class has seen a massive sell-off and investors are looking for assets to sell not bothering to see which asset to sell but finding which assets they can sell.

Potato prices jump by 25% due to crop damage, frequent hailstorms

Farmers reported a massive crop damage in transit in addition to huge quantity of the potato left unharvested due to mud in the field

Crude oil and metals slide on global cues; cryptocurrencies crash

Doom sentiment in financial markets has hit crypto currencies. Bitcoin fell $1,000 in 15 minutes to trade at $6,000 level

Iron ore, finished fertilizers help ports tide over falling volumes in coal

Vishakapatnam port aced other ports in cargo volumes with 10.98% growth

BPCL buys 2 mn bbls extra oil as Saudi cuts price, plans to hike output

BPCL's head of refineries also said his company is also exploring buying additional oil from UAE

MCX moderates margins on crude oil futures, brokers cut positions sharply

Significant fall in number of contracts traded since Friday, brokers advise clients to stay away from what they see as a very volatile market

Oil prices may have sunk but the energy market fallout has only just begun

The main beneficiaries are likely to be the main consuming countries such as India and China, but even there oil companies will be affected.

US blames 'state actors' for shocking oil markets, pleads for calm

Oil prices suffered their biggest daily rout since the 1991 Gulf War as top producers Russia and Saudi Arabia launched a price war in the face of weak demand prompted by the spread of the coronavirus

Gold prices fall 1% as global stimulus hopes boost riskier assets

Silver gained 0.2% to $17.01 per ounce, while platinum rose 1.3% to $873.58

Oil rises over 6% after price war sparks biggest daily rout since 1991

Analysts do not expect oil prices to regain the nearly 25 per cent slump from Friday's close as the coronavirus outbreak cuts demand

Crude oil down 30% as Saudi, Russia fail to reach deal over supply cuts

On Monday, Saudi Arabia reduced oil prices and offered to increase production, triggering a price war among oil-producing countries

Crude oil-linked agro commodities fall sharply, Guar, CPO lead decline

CPO is used to make bio-fuels and is influenced by the movement in crude oil; Guar gum fell because it is used in fracking, a method of extracting shale gas

Saudi Aramco shares dive 10%, Gulf debt markets hit in all-out crude war

Benchmark Brent crude fell by up to a third on Monday after Saudi Arabia, the world's lowest cost producer, said it would increase output to gain market share.

Crude oil plunges 30% to $30 a barrel; $20 possible going ahead: Analysts

The failure of the Vienna talks added to increasing investor nervousness over the coronavirus epidemic that has dampened oil demand

Commodity Picks: 09 March, 2020

Soymeal is trading at Rs 31,600 per tonne at the benchmark Indore markets