THIN SUPPLIES
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.
Trade routes in turmoil: Why Indian exports are piling up in Colombo and Singapore
About 75% of India's transshipped cargo is handled at ports outside India, and the major trade routes connecting India to various destinations, including Colombo, Singapore, and Port Klang, are currently experiencing strain.
Oil stays near five-month highs as tighter supply looms
Oil prices stayed near five-month highs on Monday as markets expected tighter supply due to OPEC+ cuts and after attacks on Russian refineries, while Chinese manufacturing data supported a stronger demand outlook.
Oil holds onto gains as investors bet on tighter supply
Brent crude fell 17 cents, or 0.2%, to $86.83 a barrel by 0017 GMT after rising 2.4% last week. U.S. West Texas Intermediate crude was at $83.06 a barrel, down 11 cents, or 0.1%, following a 3.2% gain last week.
US stocks slip as holiday-thinned week begins
Traders now see a nearly 71% chance of the Fed bringing in the first cut in June, according to the CME FedWatch tool, up from around 55% at the start of last week. At 11:38 a.m. ET, the Dow Jones Industrial Average was down 105.96 points, or 0.27%, at 39,369.94, the S&P 500 was down 7.90 points, or 0.15%, at 5,226.28, and the Nasdaq Composite was down 18.32 points, or 0.11%, at 16,410.50.
A play on broader economic recovery: 6 stocks from core industrial supplies segment with upside potential of up to 39%
While there are many ways to play the theme of industrial recovery, there is a set of companies, who don't come into headlines very often but a very high correlation between how the economy as whole is doing and a sector in particular. So while steel companies may come into news because of what happens to commodity prices and China, but the companies, which supply consumables like refractory material to them, don't come into the headlines. It is not only steel or metal, there are a host of sectors where there are niche players who supply critical input to another industry and their bottomline growth is linked to what is happening in the mother industry. Now there is little doubt that one after another things are turning better for many sectors, so some of these companies which supply industrial consumables are also coming into focus.
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New sanctions threaten Russian oil sales to India
The sanctions target Russia's leading tanker group, Sovcomflot, which Washington accused of being involved in violating the G7's price cap on Russian oil, as well as 14 crude oil tankers tied to Sovcomflot. Sources said Indian refiners are concerned the latest sanctions will create "challenges" in getting vessels for Russian oil and could drive up freight rates. That may narrow the discount for the oil, which is bought from traders and Russian companies on a delivered basis.
Zomato plans for Blinkit to deliver more via ecommerce
This major push into the fast-growing direct-to-consumer space would entail Zomato building its own supply chain to directly source branded products and manage stock, multiple people aware of the plans told ET. It would deliver these through Blinkit.
India's small exporters reel as Red Sea crisis helps rivals nab business
Small firms export 40% of India's merchandise exports and re-routing of ships has squeezed already thin margins.
Oil starts week lower after Israel says 'concluded' Gaza strikes
Oil prices fell in early Asian trade on Monday after Israel said it had "concluded" a series of strikes in southern Gaza, slightly easing concerns about supply from the Middle East.
Disruptions in Red Sea route likely to raise freight and forwarding cost by 25-30 pc: Report
Working capital cycle refers to the period between payments made to suppliers and revenue received from sales. The report also said that pressures on cash flow, although moderate for large entities, will further increase borrowings, especially for sectors such as iron and steel, auto and auto ancillaries, chemicals and textiles, which have seen a year-on-year rise in net leverage in the first half of the current fiscal.
Gold holds steady ahead of US inflation data
COMEX gold speculators raised their net long position by 2,009 contracts to 137,516 in the week to Jan. 2 , data showed on Friday.
Oil jumps over 2% on Middle East strife and US rate cut hopes
Oil jumped over 2% on Tuesday to the highest in almost a month, supported by Middle East strife and investor optimism that the U.S. Federal Reserve would soon start cutting interest rates, boosting global economic growth and fuel demand.
EV tailwinds? 5 auto ancillary stocks with upside potential of up to 37%
As the whole landscape for the auto sector changes, select auto ancillary stocks are coming back on the attention list. Last week an auto ancillary major announced the opening of two plants for Electric Vehicle space only. Probably this is just the beginning, more auto ancillary units would be announcing it sooner than later. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list
Oil up on record demand forecast, 7th straight weekly gain
Brent crude futures rose 41 cents, or 0.5%, to settle $86.81 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 37 cents, or 0.5%, to settle at $83.19. On a weekly basis, both benchmarks rose about 0.5%.
Indian rice export rates hit five-year high on thin supplies
India, earlier in June this year, had hiked the price at which it would purchase new-season common rice paddy from farmers by 7%.
Expecting low double-digit growth rate year on year for the next two years: Sanjay Sethi, Chalet Hotels
I think we are at least four years away from demand and supply catching up. The reason being hotels are a brick-and-mortar business which take time to develop and from announcing a hotel to actually opening it to guests can be anywhere between four to seven years depending on how efficient the organisation is in developing the hotels. So, we have got a fair length of runway, four years at least.
Seatbelts on, concerns off: Travel demand may lift airlines' profits to $10 billion
The global airline industry is expected to record a net profit of $9.8 billion in 2023 as passenger traffic is rising and local economies are reviving, Willie Walsh, Director General of the International Air Transport Association (IATA) said. Despite economic uncertainties, people are flying to reconnect, explore and do business, as per IATA.
Opposition slams Congress for "conditional" implementation of guarantees
Pointing out the lacunae in the scheme implementation plans in a press conference, former Chief Minister Basavraj Bommai slammed the new regime in a press conference for not walking the talk about their pre-poll promises. He criticised the Congress for asking applicants to register online for the Griha Laxmi scheme, where women heads of BPL and APL households were entitled to Rs 2,000 per month.
Oil gains after IEA sees demand rising to record high
The International Energy Agency (IEA) also warned that output cuts announced by OPEC+ producers could exacerbate an oil supply deficit and hurt consumers.
DB Schenker uses ultra-thin high-tech labels for shipment tracking
The label is designed in such a way that it sends real-time data related to location and temperature on the mobile network.
Oil rises in thin trade on concerns over U.S. storm impact
A lethal blizzard paralysed Buffalo, New York, on Christmas Day, trapping motorists and rescue workers in their vehicles, leaving thousands of homes without power and raising the death toll from storms that have chilled much of the United States for days.
Oil price cap on Russian oil will benefit emerging markets, help constrain Putin's finances: US
The price cap will encourage the flow of discounted Russian oil onto global markets and is designed to help protect consumers and businesses from global supply disruptions," US Treasury Secretary Janet Yellen said on Friday.
Oil mixed as market weighs tight supply against recession jitters
Both contracts posted weekly declines last week as the market was dominated by worries that rising interest rates to curb inflation would spark a recession and dent oil demand.
Port gridlock stretches supply lines thin in blow for economies
As the Big Crunch of 2021 has repeatedly demonstrated, a bottleneck in one corner of the globe eventually exacerbates a logjam or compounds shortages in another.
Guar seed futures rise on fresh bets
On the National Commodity and Derivatives Exchange, guar seed for September contracts increased by Rs 119, or 1.91 per cent, to Rs 6,356 per 10 quintal with an open interest of 6,345 lots.
Guar seed futures rise on fresh bets
On the National Commodity and Derivatives Exchange, guar seed for August contracts increased by Rs 77, or 1.58 per cent, to Rs 4,963 per 10 quintal with an open interest of 260 lots.
Guar seed futures rise on fresh bets
On the National Commodity and Derivatives Exchange, guar seed for August contracts increased by Rs 49, or 1.13 per cent, to Rs 4,372 per 10 quintal with an open interest of 53,080 lots.
Guar seed futures rise on fresh bets
On the National Commodity and Derivatives Exchange, guar seed for July contracts increased by Rs 9, or 0.23 per cent, to Rs 4,002 per 10 quintal with an open interest of 32,885 lots.
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