Gold rose on Monday as a slide in the dollar made bullion more attractive for holders of other currencies, while some investors took cover as stocks globally slipped into the red ahead of the U.S. Federal Reserve's two-day policy meeting.
Showing posts with label Mcx live Rate. Show all posts
Showing posts with label Mcx live Rate. Show all posts
Tuesday, 18 December 2018
Monday, 17 December 2018
Natural gas trading range for the day is 261.4-301.8
Natural gas trading range for the day is 261.4-301.8.
Natural gas prices dropped on forecasts for warmer weather next week than previously expected.
Stockpiles are now 20 percent below the normal for this time of year and at their lowest in 16 years.
Since the middle of November, the combination of changing weather forecasts and low stockpiles has kept futures prices and volatility near their highest in years
Gas output in the Lower 48 has averaged a near record high of 87.4 bcfd in the past 30 days.
Commodity Mcx Live Price
Saturday, 15 December 2018
Oil drops 2 percent on Wall Street losses, weak China data
Oil prices dropped about 2 percent on Friday, weighed down by falling U.S. stock markets, while weak economic data from China pointed to lower fuel demand in the world's biggest oil importer.
Brent crude futures fell $1.17 to settle at $60.28 a barrel, a 1.90 percent loss. U.S. West Texas Intermediate (WTI) crude futures lost $1.38 to settle at $51.20 a barrel, a 2.62 percent loss.
Global benchmark Brent posted a weekly loss of almost 2.3 percent, while WTI declined nearly 2.7 percent.
"The oil complex remains vulnerable to heavy selling into the equities especially when combined with a strengthening in the U.S. dollar as is the case so far today," Jim Ritterbusch, president of Ritterbusch and Associates, said in a note.
U.S. equity markets broadly fell as China's November retail sales grew at their weakest pace since 2003 and industrial output rose the least in nearly three years. The report added to nerves about U.S.-China trade relations.
Chinese oil refinery throughput in November fell from October, suggesting an easing in oil demand, though runs were 2.9 percent above year-ago levels.
"Oil came under pressure out of poor economic data from China overnight, dampening enthusiasm for good oil demand growth in 2019 in light of a currently oversupplied market," said Andrew Lipow, president of Lipow Oil Associates in Houston.
Concerned by mounting oversupply, the Organization of the Petroleum Exporting Countries and other oil producers, including Russia, agreed last week to reduce output by 1.2 million barrels per day (bpd), or more than 1 percent of global demand.
Commodity Mcx Live Price
Friday, 14 December 2018
Crude oil futures end higher as Saudis plan to cut crude exports to US refiners
Crude oil futures settled higher with gains of over two and half percent on Thursday after a report said that Saudi Arabia plans to cut shipments to US refiners to avoid an expansion of US stockpiles. Saudi Aramco warned US refiners to brace for a steep drop in cargoes next month.
Oil prices had already been moving up as traders pored over data showing a rise in monthly Organisation of the Petroleum Exporting Countries (OPEC) output, as well as a recent report of a weekly decline in US crude supplies and production.
Meanwhile, Iran’s oil minister Bijan Zanganeh has reported serious political disagreements within OPEC, even as group last week reached the deal to cut production. The report raised market doubts about the ability of members to adhere to the deal and curb global oversupply.
Benchmark crude oil futures for January rose $1.43 or 2.8 percent to settle $52.58 a barrel on the New York Mercantile Exchange. February Brent crude surged $1.30 or 2.2 percent to settle at $61.45 a barrel on London's Intercontinental Exchange.
Commodity Mcx Live Price
Thursday, 13 December 2018
Oil ends lower on Iran comments despite Libya, OPEC supply cuts
Oil ended lower on Wednesday after reports that Iran's oil minister said divisions exist within the Organization of the Petroleum Exporting Countries, leading futures to give up earlier gains on OPEC-led production curbs and export cuts from Libya.
Crude pared gains late in the session after reports that Iran's Oil Minister Bijan Zanganeh told state television that the cartel had been unfriendly toward OPEC's third largest producer.
OPEC last week agreed to production cuts only after Iran, whose crude exports have been depleted by U.S. sanctions since early November, greenlighted the deal.
OPEC said on Wednesday it had offset a drop in sanctions-hit exports from Iran. Iran's President Hassan Rouhani also said on state TV on Tuesday that export have improved since early November.
Earlier in the trading day, prices rose, bolstered by export cuts from Libya and planned OPEC-led production cuts.
Brent crude futures settled at $60.15 a barrel, down 5 cents on the day, while U.S. crude was down 50 cents at $51.15 a barrel.
Oil prices have fallen by a third since the start of October, when it hit a four-year high above $87. It is set for its biggest quarterly slide since the fourth quarter of 2014.
The market also shrugged off government data that showed U.S. crude stockpiles fell 1.2 million barrels last week, a much smaller drawdown than the 10 million-barrel decline reported by industry group the American Petroleum Institute and less than half the draw of 3 million barrels analysts had forecast.
Daily Commodity Mcx Live Price
Wednesday, 12 December 2018
Natural gas trading range for the day is 305.7-335.9
Natural gas trading range for the day is 305.7-335.9.
Natural gas slipped on forecasts for steady, mostly warmer-than-normal weather and lower demand over the next two weeks, despite declines in daily output.
Meteorologists stuck with their previous predictions that the weather would remain warmer than usual through Dec. 22 before turning near normal.
Worries prices had more room to rise than fall during the rest of the winter prodded speculators to cut their short positions in NYMEX futures.
With the weather expected to warm, projected gas demand in the Lower 48 states would ease to 104.5 bcfd next week from the 104.8 bcfd forecasted.
Commodity Mcx Live Price
Tuesday, 11 December 2018
Gold prices hold steady as stronger dollar weighs
Gold prices held steady early on Tuesday, supported by hopes that the U.S. Federal Reserve could pause its rate hike cycle sooner than previously thought, but a stronger dollar amid Brexit worries weighed on the precious metal.
- Spot gold was steady at $1,244.71 per ounce, as of 0114 GMT.
- U.S. gold futures were little changed at $1,250.1 per ounce.
- The dollar index , which measures the greenback against a basket of six major currencies, advanced 0.75 percent on Monday and was back firmly above 97.00.
- British Prime Minister Theresa May on Monday postponed a parliamentary vote on her Brexit deal to seek more concessions but the European Union refused to renegotiate and lawmakers doubted her chances of winning big changes.
- The Federal Reserve's plans to continue raising interest rates next year were met with more scepticism on Wall Street on Monday, with futures traders betting on a pause and one major bank partially walking back a hawkish prediction.
- U.S. job openings rebounded in October, but hiring continued to lag, suggesting a recent slowdown in job growth was most likely because employers could not find qualified workers.
Daily Commodity Mcx Live Price
Monday, 10 December 2018
Oil extends gains after OPEC-led group seals deal to cut supply
Oil prices rose on Monday, extending gains from Friday when producer club OPEC and some non-affiliated producers agreed a supply cut of 1.2 million barrels per day (bpd) from January.
Despite this, the outlook for next year remains muted on the back of an economic slowdown.
International Brent crude oil futures were at $62.21 per barrel at 0218 GMT, up 54 cents, or 0.9 percent, from their last close.
Prices surged on Friday after the Organisation of the Petroleum Exporting Countries (OPEC) and some non-OPEC producers including heavyweight Russia announced they would cut oil supply by 1.2 million bpd, with an 800,000 bpd reduction planned by OPEC-members and 400,000 bpd by countries not affiliated with the group.
U.S. West Texas Intermediate (WTI) crude futures were at $52.63 per barrel, up 2 cents, held back as the booming U.S. oil industry is not taking part in the announced cuts.
The OPEC-led supply curbs will be made from January, measured against October 2018 output levels.
Commodity Mcx Live Price
Friday, 7 December 2018
Natural gas trading range for the day is 293.5-326.1
Natural gas trading range for the day is 293.5-326.1.
Natural gas fell as the market took a break from weeks of extreme volatility after daily production picked up a bit and forecasts calling for warmer-than-normal weather.
If warmer weather comes, heating demand would decline and utilities would likely leave more fuel in storage, which would trim the inventory deficit.
Stockpiles are about 19 percent below normal for this time of year, the lowest in around 16 years.
Since the middle of November, the combination of changing weather forecasts and low stockpiles have sent futures prices and volatility to their highest levels in years.
Commodity Mcx Live Price
Thursday, 6 December 2018
Crude Oil trading range for the day is 3622-3942
Crude oil trading range for the day is 3622-3942.
Crude oil gained ahead of a meeting by producer group OPEC that is expected to result in a supply cut.
Oman Oil Minister: Baseline for oil production cut will be September or October.
Russia agrees to reduce oil output in tandem with OPEC and allies in 2019. Debates about figures and baselines for cuts is still ongoing.
API said U.S. crude inventories rose by 5.4 million barrels in the week to Nov. 30, to 448 million barrels, in a sign that U.S. oil markets are in a growing glut.
Daily Commodity Mcx Live Price
Wednesday, 5 December 2018
Oil rises as investors anticipate OPEC production cuts
Oil prices rose on Tuesday, extending gains ahead of expected output cuts by producer cartel OPEC and a reduction in Canadian supply.
Brent crude oil jumped by $1.89 or 3 percent to a high of $63.58 before slipping back to trade around $62.25, up 56 cents by 1425 GMT.
U.S. light crude was last up 20 cents at $53.15 after earlier gaining more than 3 percent to an intraday high of $54.55 a barrel.
Both benchmarks climbed by around 4 percent on Monday after U.S. President Donald Trump and Chinese counterpart Xi Jinping agreed at a meeting of the Group of 20 industrialised nations (G20) to pause an escalating trade dispute.
"Buying pressures remain at the fore of the energy complex as market players keenly await fresh supply curbs," said Stephen Brennock, analyst at London brokerage PVM Oil.
The Organization of the Petroleum Exporting Countries meets on Thursday in Vienna to agree output policy and will discuss its strategy with producers outside OPEC, including Russia.
OPEC and its allies are working towards a deal to reduce output by at least 1.3 million barrels per day (bpd), OPEC sources have told Reuters, adding that they were still talking to Russia about the extent of its production cuts.
However Saudi Oil Minister Khalid Al-Falih said it was too soon to be certain that OPEC and other oil exporters would cut production because the terms of a deal remain unresolved.
Commodity Mcx Live Price
Tuesday, 4 December 2018
Silver trading range for the day is 36150-37870.
Silver trading range for the day is 36150-37870.
Silver prices rose the dollar dropped after news that the U.S. and China agreed to put any new tariffs on hold for 90 days.
U.S. President Donald Trump and his Chinese counterpart Xi Jinping agreed to not introduce any new tariffs for 90 days.
China and the United States agreed to halt additional tariffs in a deal that keeps their trade war from escalating as the two sides try again to bridge their differences.
Investors will also be turning their attention to U.S. monetary policy, ahead of an expected rate hike by the Federal Reserve at its upcoming meeting later this month.
Daily Commodity Mcx Live Price
Monday, 3 December 2018
Gold trading range for the day is 30041-30521
Gold trading range for the day is 30041-30521.
Gold edged lower as the dollar firmed ahead of an expected meeting between U.S. President Donald Trump and China’s President Xi Jinping at the G20 summit.
Comments by the Federal Reserve chief were seen as a signal that a rising trend in interest rates may end, and this also supported the greenback.
Fed funds futures are pricing in a 78.6% probability of a hike in December followed by a 39.8% chance of a subsequent one in March 2019
Physical gold demand in the world’s second biggest bullion consumer India got a fillip from a slide in local rates due to gains in the rupee
Commodity Mcx Live Price
Saturday, 1 December 2018
After Trump calls, Gulf OPEC members cover most of Iran oil loss: Reuters survey
OPEC oil supply has fallen in November from a two-year high due to U.S. sanctions on Iran, a Reuters survey found, although most of the output gap left by Iran was plugged by Saudi Arabia and the UAE in response to calls from U.S. President Donald Trump.
The 15-member Organization of the Petroleum Exporting Countries has pumped 33.11 million barrels per day this month, the survey on Friday found, down 160,000 bpd from October, which was the highest by OPEC as a group since December 2016.
The survey adds to indications that OPEC output remains ample despite U.S. sanctions imposed on Iran this month. Oil prices have slid 30 percent since early October on worries a new glut may emerge. OPEC and its allies including Russia meet on Dec. 6-7 in Vienna to discuss cutting supply.
With Saudi Arabia and Russia pumping at record rates, U.S. output surging and forecasts pointing to lower demand in 2019 due to a slowing economy, some analysts are sceptical the producers will avoid generating a surplus.
"The most likely outcome of next week's OPEC meeting is a fudge," said Stephen Brennock of oil broker PVM. "Russia and Saudi Arabia will agree to curb production but by less than is needed to prevent a supply imbalance in early 2019."
Commodity Mcx Live Price
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