Crude oil gains a tad as industry data show inventory decline in US
Crude oil futures traded marginally higher on Wednesday morning as industry data showed a decrease in the crude oil inventories in the US.At 10.01 am on Wednesday, April Brent oil futures were up 0.06 per cent at $83.74 and March crude oil futures on WTI were at $77.34, up by 0.26 per cent. February crude […]
Crude oil rises on impact of Turkey earthquake
Crude oil traded higher on Tuesday morning as Monday’s earthquake led to the halting of export operations at one of the oil terminals in Turkey.At 10 am on Tuesday, April Brent oil futures were up 0.95 per cent at $81.76 and March crude oil futures on WTI were at $74.90, a rise of 1.07 per […]
IEA’s faith in China’s recovery boosts crude oil prices
Crude oil futures traded higher on Monday morning as the International Energy Agency (IEA) reiterated that China will boost the demand for crude oil in the global markets. At 10 am on Monday, April Brent oil futures were at $80.16, up by 0.28 per cent; and March crude oil futures on WTI were at $73.53, up […]
Crude oil gets a boost from US GDP numbers
Crude oil traded higher on Friday morning following better-than-expected US GDP data in the fourth quarter of 2022. At 10.01 am on Friday, March Brent oil futures were up 0.47 per cent at $87.88, and March crude oil futures on WTI were at $81.38, up by 0.46 per cent. February crude oil futures were trading […]
MCX copper: Prefer long positions
Copper futures (continuous contract) on the Multi Commodity Exchange (MCX), which has been on an uptrend of late, closed above the key resistance of ₹760 last week. This increases the probability of the contract rallying further. Reiterating the bullish momentum, fund flows indicate fresh long build-ups since the beginning of January — along with the […]
Crude oil dips as market waits for demand outlook reports
Crude oil traded lower on Monday morning as investors are now waiting for the demand outlook reports from major industry organisations this week.At 10.01 am on Monday, March Brent oil futures were at $84.76, down by 0.61 per cent, and March crude oil futures on WTI were at $79.42, down by 0.86 per cent. January […]
MCX Aluminium: Go long now, and at ₹209
Aluminium prices have begun the week on a strong note. The aluminium futures contract on the Multi Commodity Exchange (MCX) has surged about 3 per cent in the first two days of the week, recovering the loss from the previous week. The contract is currently trading at ₹211 per kg.The near-term outlook is bullish. Immediate […]
Crude oil prices gain as China fuels hopes of demand recovery
Crude oil traded higher on Monday morning following the hopes of demand recovery in China. At 10 am on Monday, March Brent oil futures were at $79.46, up by 1.13 per cent, and February crude oil futures on WTI were at $74.70, up by 1.26 per cent. January crude oil futures were trading at ₹6,172 […]