FUTURE PRICES
Oil prices on track for fourth straight week of gains
Oil prices stabilized in Asian trade, set for a fourth week of gains amid strong U.S. summer demand and supply concerns. Brent and WTI prices rose. Russia's Rosneft and Lukoil to cut July exports. Saudi Aramco lowered Asian prices. Sentiment boosted by geopolitical tensions, a 12.2 million barrels draw, potential Fed rate cuts, and the Gaza conflict.
Brent crude above $87 at highest levels since April
Brent crude prices reach a 3-month high at $87 due to a significant drop in US inventories. Market sees gains supported by dollar weakness and improved US fuel demand outlook. However, economic worries persist with unexpected German industrial orders decline and rise in US jobless claims.
Brent crude oil holds above $87 a barrel
Brent crude futures fell 29 cents (0.3%) to $87.05 a barrel, and U.S. West Texas Intermediate (WTI) crude futures dropped 40 cents (0.5%) to $83.48 amid thin trading due to the U.S. Independence Day holiday. In the previous session, Brent rose 1.3% to $87.34, its highest close since April 30, while WTI settled at an 11-week high of $83.88.
Rupee falls 5 paise to 83.54 against US dollar in early trade
The rupee depreciated 5 paise to 83.54 against the dollar due to high crude prices, starting at 83.52. Positive equities, foreign fund inflows supported. Amit Pabari noted pressures like crude at USD 87. S&P's YeeFarn Phua mentioned fiscal deficit reduction need. NSE Nifty, Sensex surged; FIIs buying shares. Dollar index at 105.36, US yields at 4.35%.
Oil prices slip after data points to cooling U.S. economy
Amidst economic fluctuations, rate cuts could enhance demand, endorsed by ANZ Research analysts, impacting the global oil market.
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Oil prices inch up on large US crude stock draw
Brent crude oil futures climbed 16 cents, or 0.2%, to $85.60 a barrel by 0033 GMT. U.S. West Texas Intermediate crude futures rose 14 cents, or 0.2%, to $82.95 per barrel.
India's June palm oil imports rise to 6-month high on lower prices
India's palm oil imports rose in June due to strong demand before festivals. Refiners played a key role, potentially impacting Malaysian palm oil futures. Sunvin Group highlighted palm oil's competitive pricing. The country's edible oil imports increased, with significant purchases from Indonesia, Brazil, Russia, and Ukraine.
Stock Radar: Hindustan Unilever could hit fresh record high in July series; here’s why
Hindustan Unilever is poised for growth, supported by strong technical indicators and positive derivatives data. With potential for fresh highs, the stock is showing resilience after a short correction and is expected to perform well in the July series.
Rupee falls 9 paise to 83.43 against US dollar in early trade
The healthy expansion in infrastructure sectors' growth in May was driven by the production of coal, natural gas, and electricity, amidst rising crude oil prices impacting the rupee and positive equity market sentiment.
Oil inches higher on summer demand outlook
Oil prices rose on supply deficit forecasts and OPEC+ cuts amid global economic challenges. Traders are cautious about rising non-OPEC+ output. Monitoring includes China's oil demand, the Atlantic hurricane season, and the impact of Hurricane Beryl.
Oil prices edge higher as supply risks mount
Oil prices responded to geopolitical tensions and supply disruptions, with concerns over fuel demand dynamics. The market saw gains in Brent and WTI futures amidst heightened uncertainties, while attention remained on the impact of geopolitical conflicts on oil supply. Anticipation of increased gasoline consumption over the July 4th weekend offered some relief amid persisting demand challenges.
Gold Price Today: Yellow metal opens at Rs 71,515/10 grams, silver down by Rs 2,000 this week
Amidst market fluctuations, following Manoj Kumar Jain's guidance, consider selling gold around Rs 71,650 with a stop loss at Rs 71,860. Expect volatile movements in gold and silver prices this week, influenced by factors like the dollar index and upcoming U.S. economic data. Stay informed to navigate the changing market landscape effectively.
Oil edges lower after industry group reports jump in US stockpiles
Oil prices fell on surprise U.S. stockpile increase, with concerns over weak demand. The U.S. summer driving season and consumer confidence decline contributed to market worries, along with a stronger dollar. Brent crude dropped to $84.82 a barrel.
Oil extends losses as strong dollar weighs on commodities markets
Oil prices fell in early Asian trade on Monday due to a stronger dollar and concerns of higher interest rates. Brent crude futures slid to $84.84 a barrel, while U.S. West Texas Intermediate crude futures were at $80.34. Geopolitical risks in the Middle East and issues in Ecuador impacted prices.
How hedge funds are affecting Bitcoin prices
Bitcoin ETFs and hedge funds are driving significant inflows, sparking debates among investors. The surge in investment is influenced by hedge fund strategies, impacting Bitcoin's price dynamics.
Oil prices ease on strong US dollar, mixed global economic news
WTI fell out of overbought territory as Fed's interest rate hikes to curb inflation impacted oil demand. The decline in crude prices was influenced by rising U.S. dollar and negative global economic news. U.S. business activity rose to a 26-month high in June with an employment rebound. Geopolitical tensions escalated with warnings of a trade war over electric vehicle imports.
Oil prices slip as rate hike worries come into focus
Crude oil futures slid on Friday due to higher interest rates in Asia and the U.S., with Brent futures at $85.60 and U.S. crude at $81.20. Japan's core consumer prices rose by 2.5% from last year.
Vodafone Idea, Bajaj Finance among 5 stocks with short buildup
A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Thursday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:
City Union Bank, Navin Fluorine among 5 stocks with long buildup
A long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Thursday's trading session, five stocks experienced a buildup of fresh long positions. Here's the list:
ICICI Bank, Biocon among 5 stocks with long buildup
A long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Wednesday's trading session, five stocks experienced a buildup of fresh long positions. Here's the list:
Oil up on firming demand, Mideast tensions underpin risk premium
Oil prices rose on Tuesday due to a stronger demand outlook and investor confidence in OPEC+ producers. Global benchmark Brent crude futures and U.S. West Texas Intermediate crude futures were up, closing at their highest since April.
Oil prices edge up on optimistic demand outlook
Oil prices rose on positive demand outlooks from EIA and OPEC, with Brent crude up 0.1% to $82.04 and WTI crude up 0.2% to $78.10.
Oil slips on dollar's strength from US jobs data
Oil prices slipped on Monday due to a stronger dollar and delayed interest rate cuts following strong U.S. jobs data. Developments in Iraq, including progress in oil export talks with the Kurdistan region, impacted market sentiment.
Gold Price Today: Gold prices fall Rs 2,700 per 10 gm in last 15 days, silver down Rs 6,800 per kg in one week
Gold and silver prices remain volatile ahead of key events like the U.S. job data and ECB policy meetings. Prices are influenced by factors like central bank demand, profit-taking and industrial metal pressures. Traders are cautious amid uncertainty in the market.
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