MCX CRUDE
Crude oil prices at two-month highs. What is causing the surge?
Crude oil prices rose 6% in June due to OPEC+ production cuts and US summer fuel demand. WTI, Brent, and MCX futures gained. Geopolitical risks, hurricanes, like Hurricane Beryl, influenced prices. Energy agencies predict slower oil demand growth and surplus amid energy transitions. China's and India's demand are key. Fed rate cut decisions also impact oil markets.
Gold Price Today: Gold opens flat at Rs 71,689 per 10 gram, silver trades at Rs 89,867/kg
Gold and silver prices remain stable but cautious as markets await speeches from Fed Chair and ECB President. Manoj Kumar Jain predicts price volatility this week.
After a 13% rally so far this year, is upside in MCX crude oil futures capped?
European Union's sanctions and China's economic concerns pose challenges for oil demand. Amidst the ongoing rally, uncertainties like a potential ceasefire in Gaza and China's economic health could influence oil prices. Expert projections hint at sustainability hurdles for the current uptrend in crude oil prices.
Crude oil prices near 2-month lows. What’s next?
The global benchmark, US WTI crude currently clinging below $80 a barrel, has lost more than 10% from a near two-year high tested last month. A similar correction was witnessed in the Asian Brent and the domestic MCX futures as well.
Is the stock market closed for Ram Navami on Wednesday?
Equity markets closed for Ram Navami. All segments shut. Multi-commodity exchange opens at 5:00 pm. Trade settlements closed.
Israel-Iran conflict, Q4 earnings among 11 factors that will steer D-Street this week
The upcoming week promises to show top action with the Iran-Israel conflict taking center stage along with the earnings season which kicked off with the announcement of earnings by TCS. Oil prices, China GDP data, US retail sales figures, and movements in US bond yields and the dollar index will be important macroeconomic events that may influence market sentiments
Sudip Bandyopadhyay on sectors that will do well in Q4 and sectors that will not
Sudip Bandyopadhyay anticipates strong performance in infra, defence, BFSI, real estate. Mixed outlook for IT, FMCG; subdued for cement. Concerns over crude at $91 impact Indian markets. Banks focus on deposit mobilisation, stable asset quality. Long-term bullish on insurance sector. He further says crude oil at $91 does not mean good for the Indian equity market and the Indian economy.
Stock markets closed for trading today on account of Good Friday
Equity markets will remain closed on two occasions in April, once each in May, June, July, August, October, December, and twice in November. November 1, Friday will be Diwali (Laxmi Pujan) and Muhurat Trading will be conducted by the exchanges, the timings for which will be notified later.
Commodity Talk: Crude oil at multi-month highs. Jigar Pandit suggests dip buying
Jigar Pandit forecasts $92-$95 Brent crude price and Rs 7,300 MCX price for 2024, urging investors to capitalize on corrections amid geopolitical uncertainties impacting crude oil supply and demand dynamics. He also says: "As the US FOMC has indicated a possible three rate cut in 2024, we expect the dollar to weaken, while the demand remains healthy for crude oil from emerging markets and Asia."
Crude oil prices are already up 10% this year. What’s next?
The Middle East is a critical area for global energy production and transportation, with several major oil-producing countries that combinedly contribute more than 30 percent of global oil production.
Commodity Talk | Crude outlook remains moderately bullish amid patchy demand: Anuj Gupta
Analyst Anuj Gupta predicts moderately bullish outlook for crude oil with prices likely to remain at current levels due to higher supply from non-OPEC producers and patchy demand from China and Eurozone. Middle East tensions and US dollar strength also impact prices.
Technical glitch delays trading at MCX on Tuesday
"The delayed start was attributed to the slow processing and generation of backend files for the members... The matter is being examined for identifying the root cause which led to the issue," said the exchange in a press release.
MCX commences trading after a four-hour delay
The exchange deferred the timings of resumption twice before the trade started. In a circular issued by MCX, it said that the trading hours for the commodity derivatives segment for February 13, 2024, have been revised from 9 am to 1 pm.
Gold Rate Today: Yellow metal set to end with weekly gains. Is it time to buy?
While the MCX April gold futures were trading at 62,900 per 10 grams at 10:30 am, down Rs 65, the March Silver contracts were down Rs 53 or 0.07% at Rs 72,165 per kg.
MCX prepones launch of WTI crude oil, natural gas options contracts to October 9
On September 26, India's largest commodity exchange announced that it has received a nod from the Securities and Exchange Board of India (Sebi) to launch options contracts on underlying WTI crude oil and natural gas futures on the NSE
MCX crude oil at 10-month high. Should you buy at current levels?
After a strong rally, crude oil futures are witnessing some profit-booking at higher levels, but the overall trend remains positive, and a buy-on-dips strategy is recommended, analyst Anuj Gupta, Head Commodity & Currency at HDFC Securities, told ETMarkets. He suggests a buy at Rs 7,050 with a stop loss of Rs 6,950 and a target of Rs 7,300.
Gold Rate Today: Gold falls as dollar, bond yields go up. Check price of yellow metal in Delhi, Ahmedabad, and other Indian cities
Tracking cues from their foreign peers, both gold and silver futures ended with declines in the previous session. While the former ended Rs 118 per 10 grams lower, the latter was down Rs 27 per kg.
Crude on boil! Surprise Opec+ cut may fire oil prices to $90-95 by 2023-end
Meanwhile, Goldman Sachs raised Brent crude price forecast for December 2023 to $95 per bbl and December 2024 forecast to $100 per bbl following the announcement. The global investment bank lowered its end-2023 production forecast for OPEC+ by 1.1 million bpd.
Goldman Sachs cuts Brent crude futures forecast to $94
He said that weakness in oil prices is welcome news from the Indian standpoint as this would lower India’s import bills lowering the current account deficit (CAD). Imports account for over 80% of the country's oil requirements, Gupta noted.
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