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| 07 March, 2021, 04:11 AM IST | E-Paper
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    Crude oil prices sapped by rising coronavirus cases

    Worldwide coronavirus cases surpassed 90 million on Monday, according to Reuters tally, as nations around the globe scramble to procure vaccines and continue to extend or reinstate lockdowns to fight new coronavirus variants.

    Crude oil futures decline 2% on low demand

    On Multi Commodity Exchange, crude oil for March delivery eased by Rs 81, or 1.81%, to Rs 4,387 per barrel.

    Crude oil prices climb after progress on huge US stimulus bill

    Brent crude futures for May rose $1.07, or 1.7%, to $65.49 per barrel by 0042 GMT. The April contract expired on Friday.

    Crude oil extends gains on OPEC+ supply restraint

    Brent crude rose 10 cents, or 0.2%, to $66.84 a barrel, but down from a high of $67.75 hit on Thursday.

    Crude oil futures decline on low demand

    On Multi Commodity Exchange, crude oil for the March delivery eased by Rs 26 to Rs 4,499 per barrel.

    Crude oil slips on concerns that OPEC+ may be set to pump up supply

    U.S. West Texas Intermediate (WTI) crude futures fell 18 cents, or 0.3%, to $59.57 a barrel by 0122 GMT, down 6% since Feb. 25.

    Crude oil futures decline on low demand

    On Multi Commodity Exchange, crude oil for March delivery eased by Rs 31, or 0.7%, to Rs 4,420 per barrel.

    Crude oil rates firm on prospect of OPEC+ maintaining supply cuts, drop in US inventories

    The market had been expecting OPEC+ to ease production cuts by around 500,000 barrels per day (bpd) from April.

    Commodity strategies: Gold, silver, crude oil, base metals

    The strength index RSI for MCX Gold is hovering in the oversold zone (28) that might limit more downside in gold prices.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices traded under pressure with rise in US bond yields despite of weaker dollar on strong equity indices. The strong equity indices on economic growth optimism pushed bullion prices down for the day.

    Why crude oil prices shot up by 21% this year

    WTI oil prices are expected to move higher towards $62/bbl in a month time frame, while MCX oil futures might move higher towards Rs 4,500/bbl in the same time frame.

    Crude oil futures rise on spot demand

    On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 57, or 1.25 per cent, at Rs 4,625 per barrel in 5,929 lots.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices witnessed selling with rise in US bond yields as US 10 year Treasury yields rose above 1.50 per cent to the highest levels since February 2020. The rally in the Bitcoin also pressured precious metals to trade lower.

    Oil slips after US crude stocks rise amid deep freeze hit to refiners

    Crude stockpiles rose by 1 million barrels in the week to Feb. 19, the American Petroleum Institute (API) reported on Tuesday, against estimates for a draw of 5.2 million barrels in a Reuters poll.

    OPEC, allies agree to keep oil production cuts in place, prices jump

    Members of oil producer cartel OPEC and allied countries have agreed to leave most of their existing oil production cuts in place as the spread of new coronavirus variants prolongs concerns about economic weakness. OPEC countries led by Saudi Arabia joined with non-members led by Russia to reach the deal in an online meeting Thursday. Most significantly, one million barrels per day in voluntary cuts from Saudi Arabia will remain in place at least through April.OPEC, allies agree to keep oil production cuts in place, prices jump

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices made strong comeback after previous week’s decline while base metals prices continued upside with China demand.

    Crude oil futures rise on spot demand

    Globally, West Texas Intermediate crude oil gained 0.67 per cent to $60.45 per barrel, while Brent crude traded 0.87 per cent higher at $63.90 per barrel in New York.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices traded under pressure with rise in US bond yields despite of dovish stance from US Fed chairman Jerome Powell, as he signalled accommodative policy for next couple of years to support economic recovery.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices pared some of weekly loses ended higher on Friday while base metals continued to soar on strong demand outlook.

    Crude oil futures decline on low demand

    West Texas Intermediate crude oil was trading 0.76 per cent higher at $59.92 per barrel, while Brent crude oil was quoting 0.09 per cent down at $63.24 per barrel in New York.

    Oil price stabilization fund to help consumers from rising crude prices: Report

    At present, every state has its own way of taxing fuels, while the Centre also collects its own duties and cess. Petrol prices have touched Rs 100 per litre in some pockets of the country and concerns are being expressed about the high taxation which is making the fuels dearer.

    Oil rises as vaccine and US stimulus boost demand outlook

    Brent crude rose 51 cents, or 0.8%, at $64.93 a barrel by 11:29 a.m. EST (1629 GMT), and U.S. West Texas Intermediate (WTI) crude gained 28 cents, or 0.5%, to $61.78 a barrel.

    ONGC is rallying like it’s 2013 as surging oil prices boost outlook

    Investor behaviour on the ONGC counter so far in February showed they expect the gains to sustain in the near term.

    Rising crude good for producer stocks, not so for consuming cos, fuel retailers

    The international benchmark Brent crude oil prices have risen by 28 per cent since the beginning of the year from $51.22 to $65.74 per barrel on Tuesday on expectations of improvement in oil demand in 2021 and production cuts.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices halted five day slide on Thursday on mixed global cues with profit taking in equity indices. Precious metals traded under pressure with rise in bond yields and stronger dollar.

    Commodity strategies: Gold, silver, crude, base metals

    Base metals traded strong on higher demand optimism. Bullion prices pared early gains with rise in bond yields despite of dollar decline.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices traded under pressure with rise in bond yields as vaccine rollouts boosted economic growth optimisms. The risk on sentiments drove investors out of precious metals.

    Crude oil futures rise on spot demand

    On Multi Commodity Exchange, crude oil for March delivery traded 0.59% higher at Rs 4,735 per barrel.

    Iraq decides to freeze oil prepayments deal as oil prices rising

    "We had concerns that oil prices would not rise above $40 when we announced this deal for the first time in the history of Iraq," Ihsan Abdul Jabbar told the channel.

    Oil prices extend rally after surprise fall in US stocks

    Brent crude was up by 11 cents, or 0.2%, at $61.20 by 0110 GMT after rising nearly 1% on Tuesday, when it touched a 13-month high. U.S. crude added 2 cents to $58.28.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices traded higher supported by weaker dollar. The dollar index was down by 0.20 per cent in the morning trade boosting buying in precious metals.

    Hedge funds bet on oil's 'big comeback' after pandemic hobbles producers

    Global oil benchmark Brent has jumped 59% since early November when news of successful vaccines emerged, after COVID-19 travel curbs and lockdowns last year hammered fuel demand and collapsed oil prices.

    Commodity strategies: Gold, silver, crude, base metals

    Crude oil prices pared weekly losses on geopolitical tensions on Iran while base metals gained on demand growth optimism. The dollar index ended 0.62 per cent down for the week.

    Oil holds near year-long highs as Covid lockdowns seen easing

    Brent crude was up 7 cents, or 0.1%, at $65.31 a barrel by 1505 GMT, still close to its highest levels since January 2020. US crude fell 14 cents, or 0.2%, to $61.56 a barrel.

    Oil giving up big-freeze gains with wells slowly restarting

    Companies are using restored power from grids or generators to resume output that was halted by the frigid weather, according to people familiar with the matter. The timeline for a full restoration of the estimated 40% or so of U.S. oil production that was shut in by the big freeze is unclear.

    Crude oil price hits 13-month high supported by supply cuts, demand optimism

    Analysts caution that the fast run-up in oil prices has driven both crude futures contracts into overbought territory.

    Oil rates edge lower amid doubts over US stimulus, rising COVID-19 cases

    Have recently hit 11-month highs, oil is offset by optimism for more stimulus from the newly installed Biden administration in the United States to support economic growth as vaccines are rolled out.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices pared weekly gains with gold prices falling nearly 1% while crude oil prices declined in lower demand outlook. The dollar index ended marginally up recovering from recent lows for the day.

    Commodity strategies: Gold, silver, crude, base metals

    Crude oil prices witnessed recovery in the evening session while base metals traded upside on lower supply fears. The dollar index ended marginally down which helped commodities to trade frim for the day.

    Oil gains as US fuel stocks drop, OPEC+ considers deal rollover

    US gasoline stocks fell last week by the most on record and refining output fell to a record low in the wake of a deep freeze in Texas that shut production.

    Oil falls as US stimulus squabbles, coronavirus surges sour mood

    Brent crude was down 28 cents, or 0.5%, at $55.60 by 0747 GMT, while U.S. crude fell 26 cents, or 0.5%, to $52.51. Both rose nearly 1% on Monday.

    Oil prices dip on rise in coronavirus cases; US inventories draw checks losses

    Brent crude oil futures dipped 5 cents, or 0.1%, to $56.01 a barrel by 0124 GMT, while U.S. West Texas Intermediate (WTI) fell by 1 cent to $52.90 a barrel.

    Commodity strategies: Gold, silver, crude, base metals

    Base metals complex witnessed strong buying with copper rallying the most. Bullion prices continued moving upside supported by weaker dollar which fell by over half a percent for the day.

    Are we at the cusp of a fresh bull run in commodities?

    Vaccine rollouts and strong optimism over economic recovery has led to some liquidation in precious metals with risk-on sentiments. The rally in US bond yields and dollar recovery has kept bullion prices lower for the last few months.

    Commodity strategies: Gold, silver, crude, base metals

    Crude oil prices continued surging to multi-month highs on stronger demand prospects. Bullion prices gained on weaker dollar over stimulus hopes.

    Oil prices fall for second session as Covid-19 lockdown concerns cast pall over demand prospects

    Brent crude futures for March fell 15 cents, or 0.3 per cent, to $55.26 a barrel by 0158 GMT, while US West Texas Intermediate crude for March was at $52.19 a barrel, down 8 cents, or 0.2 per cent.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices traded up from the support levels on disappointing US payroll data and stimulus hopes. However, continuous dollar strengthening has capped the upside in precious metals.

    Crude oil drops 1% as rising coronavirus cases end supply-led rally

    Surging new infections throughout the world have raised doubts about how long demand would hold up.

    Crude oil futures rise by Rs 69 on spot demand

    On MCX, crude oil for February delivery traded 1.56% higher at Rs 4,483 per barrel .

    Oil prices fall on rising US dollar, expectations for supply gains

    U.S. West Texas Intermediate (WTI) crude futures dropped 36 cents, or 0.6%, to $63.17 a barrel at 0241 GMT, giving up all of Thursday's gains.

    Average Dubai crude oil price rises to 13-month high in Feb: Sources

    The monthly averages for February for Dubai and Oman as quoted by Platts are indicated in the table. Middle East producers set their monthly official selling prices (OSPs) at premiums or discount to these averages.

    Crude oil futures rise on spot demand

    Crude oil for the February delivery traded higher by Rs 24, or 0.59 per cent, at Rs 4,094 per barrel in 6,227 lots.

    Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

    Brent crude futures rose 16 cents, or 0.3 per cent, to $57.62 a barrel, in a fourth straight day of gains after hitting $58.05 on Tuesday, its highest in more than 11 months.

    Oil prices fall amid worries over new coronavirus strain

    Brent crude dropped 97 cents, or 1.9 per cent, to $51.29 a barrel by 0103 GMT after rising 1.5 per cent and touching its highest since March last Friday.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices declined on stronger dollar and positive economic data from US, while base metals witnessed muted trading ahead of Chinese holidays. The dollar index ended up by 0.39 per cent for the day.

    Oil extends losses as Texas prepares to ramp up output

    Brent crude futures were down 33 cents, or 0.5%, at $63.60 a barrel by 11:06 a.m. (1606 GMT) U.S. West Texas Intermediate (WTI) crude futures fell 60 cents, or 1%, to $59.92.

    Oil prices rise as producers commit to output restraint

    Brent crude was up 51 cents, or 0.9 per cent, at $56.86 a barrel by 0134 GMT, while U.S. oil gained 53 cents, or 1 per cent, to $54.08 a barrel. Both contracts rose more than 2 per cent in the previous session.

    Commodity strategies: Gold, silver, crude, base metals

    Gold prices traded under pressure on stronger dollar while crude oil and base metals recovered on demand growth optimisms. The dollar index traded near two months high on vaccine rollouts and positive economic data.

    Oil prices hit 11-mth highs on tighter supplies, Fed assurance on low rates

    Brent crude futures for April gained 19 cents, 0.3 per cent, to $67.23 a barrel by 0400 GMT, while U.S. West Texas Intermediate crude for April was at $63.30 a barrel, up 8 cents, 0.1 per cent.

    Brent approaches $60 per barrel mark as supply cuts, stimulus hopes lift prices

    Brent crude for April touched a high of $59.95 a barrel and was at $59.85 by 0041 GMT, up 51 cents, or 0.9%. Front-month prices last hit $60 on Feb. 20, 2020.

    Commodity strategies: Gold, silver, crude, base metals

    Silver prices retreated from recent highs on higher margins while crude oil prices continued to soar on supportive fundamentals. The dollar index continued to weigh on commodity prices which gained by 0.24 per cent for the day.

    Oil retreats on rising US dollar, though Texas supply choked

    U.S. West Texas Intermediate (WTI) crude futures gave up 33 cents, or 0.6% to $59.72 a barrel at 0140 GMT, retreating from a 13-month high of A$60.95 hit on Tuesday.

    Share of Canada, US in India's oil imports surges to record high in January

    India's imports from Canada and the United States almost doubled from December to 142,000 bpd and 367,000 bpd, respectively. The United States emerged as the fourth-biggest supplier to India after the United Arab Emirates.

    Oil producing countries face $9 trillion shortfall as demand falters

    Half of those set to be impacted live in Nigeria, where a 70- percent drop in oil revenues would cut state income by one third, an analysis found.

    Oil drops on dollar strength and OPEC+ supply expectations

    Brent crude futures for April, which expire on Friday, fell 69 cents, or 1%, to $66.19 a barrel by 1442 GMT. The more actively traded May contract slipped by 80 cents to $65.31.

    Upward spiral of diesel and petrol prices likely to continue

    Wider vaccine roll out, falling Covid cases, increased economic activity and artificial supply restrictions by key producers are boosting oil prices that have risen two-thirds since October. Investment bank Goldman Sachs expects prices to rise to $70 by the second quarter of the year.

    Crude oil futures rise on spot demand

    Participants widened their positions on firm spot demand.

    Crude oil sinks toward $60 before OPEC+ meets to decide on supplies

    The alliance gathers on Thursday to decide how many barrels to return to a market that had its best ever start to a year before the current skid.

    Crude oil futures rise on spot demand

    Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

    Brent oil passes $65 with US crisis now a global supply shock

    ​Futures in London jumped as much as 1.8% at the open after closing at the highest in almost 13 months. The global crude benchmark last traded above $65 on Jan. 21, 2020 before Covid-19 wreaked havoc on global energy markets.

    Oil prices close to 13-month highs, supported by Texas cold snap

    The global rollout of coronavirus vaccinations, fuelling expectations of a recovery in the global economy and oil demand, has also kept prices buoyant.

    Oil slips on tightening COVID-19 curbs, especially in China

    "It looks like the market's really paying attention to some of the demand concerns. The one which has really taken over moreso than others is what's going on in China," said Commonwealth Bank Commodities Analyst Vivek Dhar.

    Oil steady before OPEC+ talks on supply amid economic recovery

    OPEC Secretary General Mohammad Barkindo said the outlook for oil demand was looking more positive, particularly in Asia.

    Oil gains despite patchy vaccine rollouts, new coronavirus variants

    Brent crude futures were up 36 cents, or 0.7%, at $55.40 a barrel by 0612 GMT, while U.S. West Texas Intermediate (WTI) gained 24 cents, or 0.5%, to $52.44. Both benchmarks gained nearly 8% in January.

    Oil in longest rally in two years as vaccines boost demand hopes

    US crude inventories fell unexpectedly in the week, dropping 6.6 million barrels according to the Energy Information Administration, compared with an expected 985,000-barrel increase forecast in a Reuters poll.

    Oil rises after OPEC+ alliance of major producers maintains oil output cuts

    Brent crude futures gained 4 cents, or 0.1 per cent, to $58.50 a barrel, by 0120 GMT. On Wednesday, Brent prices hit their highest since Feb. 21, 2020.

    Commodity strategies: Gold, silver, crude, base metals

    The strength index RSI for MCX Gold is hovering in the oversold zone (26) suggesting weakness in strength. However, this oversold condition warrants some caution in shorts.

    Oil prices reach highest in nearly a year as producers restrain output

    Brent crude was up $1.31, or 2.3%, at $57.66 a barrel by 1500 GMT for its third straight day of gains and the highest levels since February last year.

    Oil rises as US oil stockpiles drop, new Chinese COVID-19 cases decline

    The American Petroleum Institute (API) reported crude oil inventories in the United States, the world's biggest oil consumer, fell by 5.3 million barrels in the week to Jan. 22 compared with analysts' expectations in a Reuters poll for a build of 430,000 barrels.

    Both States, Centre have duties on petroleum price, says FM Nirmala Sitharaman

    On being asked about fuel price rise, Union Finance Minister Nirmala Sitharaman said that both State government and Central government have duties on petroleum price. She said, “Ideally, it is a matter which both States and Centre should discuss because it's not just Centre which has duties on petroleum price, States are also charging. When the Centre draws revenue, 41% of it goes to the State.”Both States, Centre have duties on petroleum price, says FM Nirmala Sitharaman

    Oil’s recovery is too fast for its own good

    Recent increases in crude prices and the rapid drawing down of visible stockpiles will undoubtedly lead to calls for a more rapid raising of production targets than was envisaged in December.

    Oil marketing companies hike fuel prices again after 3-day break

    Oil marketing companies raised the pump price of petrol and diesel by 24 paise and 15 paise per litre on Saturday.Across the country as well the petrol and diesel prices increased between 20-30 paise per litre depending on the level of local duty at the state level.

    Crude oil futures rise on spot demand

    Crude oil for January delivery traded higher by Rs 27, or 0.71 per cent, at Rs 3,840 per barrel in 1,409 lots.

    Brent crude edges up as optimism over economy trumps demand concerns

    US West Texas Intermediate crude was at $52.25 a barrel, down 11 cents, or 0.2 per cent. There was no settlement on Monday as US markets were closed for a public holiday. Front-month February WTI futures expire on Wednesday.

    10 commodity strategies that analysts say may give good returns this week

    Gold has been under pressure while silver has rallied on speculative trading. Similarly, there have been varied movements in metal and agro commodities. Here are 10 strategies that may deliver good returns in one week:

    OPEC+ under pressure to boost output as oil climbs towards peak

    “We are in a much better place than we were a year ago, but I must warn, once again, against complacency. The uncertainty is very high, and we have to be extremely cautious,” the minister said in a speech on Wednesday.

    Oil treads warily higher amid patchy vaccine rollouts, new coronavirus variants

    Brent crude futures were up 10 cents at $55.14 a barrel by 0233 GMT, while U.S. West Texas Intermediate (WTI) gained 1 cents to $52.21. Both benchmarks gained nearly 8% in January.

    Crude oil futures decline on low demand

    Crude oil for the January delivery eased by Rs 12, or 0.31 per cent, to Rs 3,887 per barrel with a business volume of 2,403 lots.

    Crude oil price stable as US stimulus jitters counter OPEC+ supply cuts

    U.S. Democrats are still trying to convince Republican lawmakers of the need for more stimulus, raising questions over when and in what form a package will be approved.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices surged on easy monetary policy from major central banks while dollar fell for the third straight day on stimulus hopes. The profit booking in Bitcoin also boosted buying in precious metals.

    Crude oil futures rise on spot demand

    Crude oil for February delivery traded higher by Rs 23, or 0.56 per cent, at Rs 4,133 per barrel in 5,510 lots.

    Oil hits 13-month highs as market re-balances

    Brent crude was up 88 cents, or 1.4%, at $63.31 a barrel at 1320 GMT, after climbing to a session high of $63.76, the highest since Jan. 22, 2020.

    Oil jumps 5% as OPEC+ agrees output rollover for April

    Brent crude futures were up $3.06 or 4.8% at $67.13 a barrel by 11:30 a.m. ET (1630 GMT). U.S. West Texas Intermediate (WTI) crude rose about $3 or 4.7% at $64.17, having earlier scaled its highest since January 2020, at $64.51.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices traded higher on stimulus hopes from Biden administration ahead of US Treasury secretary Janet Yellen’s testimony.

    Oil prices fall as OPEC+ talks delays raise supply concerns

    Opening trading for December Brent crude was down 20 cents, or 0.4per cent at $47.68 a barrel by 0136 GMT, after dropping more than 1per cent on Monday.

    Commodity strategies: Gold, silver, crude, base metals

    Bullion prices have kept to lower trading range on dollar buying while US bond yields remained fluctuated near 10 months highs.

    Oil companies keep steepest rise for weekend; petrol, diesel prices shoot up to 40 paise/litre

    In the last 12 days (since February 9), the price has gone up by Rs 3.63 per litre for petrol while the diesel rate has risen by Rs 3.84 a litre. The petrol and diesel prices have increased 24 times in 2021.

    Oil edges higher on US stimulus hopes but demand fears persist

    Brent crude was up 38 cents, or 0.6%, at $61.52 a barrel by 11:06 a.m. ET (1606 GMT) having dropped to a session low of $60.35 earlier. US oil was up 22 cents, or 0.4%, at $58.46 after falling to a session low of $57.41.

    10 commodity bets for up to 14% returns this week

    As the government announces its Budget, some metals warrant a change in strategy. Meanwhile, some agricultural commodities are also presenting ample opportunities to make money. Here are 10 commodity bets analysts say can deliver returns of up to 14 per cent this week:

    10 commodity buy-sell strategies that may deliver good returns in near term

    Energy counters are seeing a lot of action due to bad weather and output cuts, while metals are also not devoid of activity. Here are some of the commodity buy-sell strategies that may provide decent returns during the week:

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