SUMMER DEMAND OUTLOOK
Oil holds near two-month high on higher demand outlook, possible rate cut
Exciting developments in the oil market as prices hold steady near recent highs, driven by robust demand projections and the possibility of U.S. interest rate cuts. The looming threat of Hurricane Beryl and reduced crude imports into Asia, especially China, add further intrigue to the market landscape.
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 edges higher on inventory drawdown outlook, Middle East risks
Oil prices inched up on Wednesday nearing their highest level in almost two months, driven by forecasts for an eventual inventory drawdown during the third quarter peak summer demand season and geopolitical risks from the Middle East conflict.
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 hits seven-week high on demand hopes, war jitters
Oil prices hit seven-week highs on Wednesday as summer demand optimism and concerns over escalating conflicts offset an industry report that said U.S. crude inventories unexpectedly rose.
Oil prices on track for weekly gain on solid demand outlook
Oil prices fell on Friday, with Brent crude futures down 0.87% to $82.04 a barrel and West Texas Intermediate losing 1% to $77.84. OPEC+ decision to unwind output cuts after September also impacted the market.
Ahead of Market: 10 things that will decide D-Street action on Thursday
Benchmark key indices gained over 3% each on Wednesday. The Nifty Bank saw its best percentage gain since February 1, 2021. HDFC Bank, SBI, L&T were among the most active stocks on NSE in value terms. The market breadth favoured bulls with 2,597 stocks ending in the green, while 1,221 names settling with cuts.
Traders are bracing for a record-smashing summer that will shake up commodities
Prices for some of the world’s most vital commodities — natural gas, power and staple crops like wheat and soy — are climbing.
Oil slips for third session on likely 'higher for longer' US rates
U.S. crude oil and gasoline inventories rose last week, while distillates fell, according to market sources citing American Petroleum Institute (API) figures on Tuesday.
Expect 30-40% growth in air conditioner sales this year: B Thiagarajan, Blue Star
B Thiagarajan, MD of Blue Star, discusses the growth and outlook of the AC industry for FY24, including unexpected growth in March and projected growth in April, market hold up post 2023 summer, potential for India to overtake China by 2040-2045, consumer finance trends, and capacity planning to meet increasing demand.
April brings good news: Consumer goods cos winning majority votes during polls
Steady demand for consumer goods prevails despite election season disruptions, with notable sales spikes in cooling appliances, small food packs, and traditional snacks. Retailers face challenges due to store closures on voting days.
Rural markets continue to grow at one-and-a-half times urban market: Bharat Puri, Pidilite
Bharat Puri of Pidilite Industries aims for double-digit volume growth within a margin range of 20%-24%. Despite short-term challenges, long-term strategies focus on rural market growth, stable raw material prices, and value-driven pricing.
Blue Star has a very balanced growth in both B2B and B2C segments; Jan-July overall market growth to be 30-35%: Vir Advani
Blue Star's Vir Advani discusses strong Q4 performance, market growth outlook, revenue milestones, and technological advancements. Anticipates continued demand revival, capacity expansion, and industry growth with a focus on innovation and efficiency improvements.
Oil at $100? Will oil prices hit a century this summer as a global shortage takes hold?
Oil prices surged above $90 a barrel due to military tensions between Israel and Iran, compounded by global supply shocks. Mexico cutting crude exports and other disruptions are intensifying fears of inflation. This supply crunch is turbocharging an oil rally, potentially pushing Brent crude to $100, impacting global economies and Biden's reelection chances.
What heat waves spell for India: Impact on RBI, biz, food & GDP
Weather experts warn of increasing heat waves in India, impacting daily life, business, and economy. With hotter temperatures forecasted, power demand is expected to rise, putting pressure on power generation and potentially leading to power cuts. Heat waves can also disrupt food production, impacting prices and rural demand, affecting GDP growth.
FY25 outlook bright, need to watch out for CAD: Finmin
India's economic outlook for FY25 is positive with strong growth, stable inflation, and robust external account. The government's capital push boosts private investments. Focus needed on increasing domestic savings, monitoring global challenges, and attracting foreign investments for sustainable growth.
Morgan Stanley expects Brent to climb to $90/bbl by summer 2024
Morgan Stanley raised its Brent oil price forecasts by $10 per barrel to $90 for the third-quarter of 2024, citing tighter supply and demand balances on OPEC+ commitment and Russia's oil production curtailments after recent drone attacks on its refineries.
Gold falls for 2nd week as US yields rebound. Where’s it headed next?
Gold may have benefited from inflation and geopolitical concerns in the last two days of the week. However, gold is a poor inflation hedge, and geopolitical tensions are yet to escalate to a disconcerting level that could support gold prices in a sustainable way.
Gold rises for first time in 4 weeks amid Israel-Hamas conflict. Can it shine some more?
The upcoming week will feature a series of speeches by Fed officials, including Fed Chair Jerome Powell, along with the release of US Retail Sales and Industrial Production data. Chinese GDP, fixed asset investment, and Retail Sales data are also expected to draw significant attention. With ongoing geopolitical tensions in the Middle East and fading prospects of another Fed rate hike, we anticipate that gold prices will remain well-supported in the short term.
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