Thu, Nov 28, 2024
The Finance Ministry would review the efficacy of windfall tax on the export of petrol, diesel and Aviation Turbine Fuel (ATF) as global crude oil prices have stabilised, sources said. Phenomenal profits made by some oil refiners on exporting fuel at the expense of domestic supplies had prompted the government to introduce an export tax on petrol, diesel and ATF in July 2022.
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Fri, Oct 04, 2024
India is bound to be impacted by the spillover impact of global developments, a central government official has said.
Tue, Oct 01, 2024
Brent crude slipped below $70, Brent crude fell by about 2.5%
Mon, Jun 27, 2022
There has been a big jump in the prices of cotton on MCX. MCX Cotton is trading 5% higher at Rs 46,940. Cotton sowing fell by 16% to 32 lakh hectares. There was less rain in the cotton growing areas. Apart from this, guar futures fell. NCDEX Guar Seed and Guar Gum fell by up to 2%. MCX Gold is trading higher by Rs 300 to Rs 50,900 per 10 grams and silver is trading higher by Rs 900 to Rs 60,625 per kg. Amidst the G7 meeting, Brent crude slipped by $ 113 per barrel and WTI crude reached close to $ 107 per barrel. Where will you earn profit today? Watch Commodity Superfast.
There are good signs from the global markets. On Friday, there was a great rally in the US markets. The Dow Jones closed at the day's high by jumping 825 points. Apart from this, a jump of up to 3% has also been seen in Nasdaq. The Russell 2000 jumped over 3%. Apart from this, there has been a jump of 1-1.5% in the European markets. Brent Crude reached near $111 per barrel. At the same time, Russia defaulted on the repayment of the loan.
Brent crude futures slipped $1.42, or 1.3%, to $111.70 a barrel by 0010 GMT after rebounding 2.8% on Friday. U.S. West Texas Intermediate crude was at $106.08 a barrel, down $1.54, or 1.4%, following a 3.2% gain in the previous session.
Sun, Jun 26, 2022
On Thursday, Fed Chair Jerome Powell said the central bank`s focus on curbing inflation was "unconditional", adding to fears about more interest rate hikes.
Fri, Jun 24, 2022
Brent crude fell by about 10% in two weeks. LME Copper hits 16-month low. NYMEX Natural Gas hits 2.5-month low. Soybean became the cheapest in one and a half months. Wheat in the US reached a 4-month low. Palm oil fell 16% in Malaysia this week. Brent fell 22% from year's high. Cotton in the US dropped by 30% in two months. Nickel dropped 70% from record high. Copper fell nearly 23% from year's high. Palm oil fell 36% from record high. What's going to happen in the commodity now? Relief or calamity from a heavy fall? Watch our special show with Mrituenjay Kumar Jha.
India's import of crude oil from Russia has increased by more than 50 times since April and its share in the total imported oil has increased to 10%. According to the news of PTI, a senior government official gave this information on Thursday. Russia's share of crude oil India imported from Russia was only 0.2% before the Ukraine-Russia war.
Thu, Jun 23, 2022
Sector related triggers in the market are triggering the auto stocks, and the move has been more significant in this financial year and are expected to remain strong over the remaining part of this financial year.
Commodities witnessing a bear run in the markets. From crude oil, to metals to cotton, many commodities are at lows not seen in months and weeks. Zee Business’ Mrityunjay Kumar Jha brings this report
Meanwhile, U.S. President Joe Biden called on Congress to pass a three-month suspension of the federal gasoline tax to help combat record pump prices and provide temporary relief for American families this summer.
Wed, Jun 22, 2022
Crude prices fell sharply in the commodity market today. Brent crude slipped below 109.79 per barrel and WTI 104.21 per barrel. The price of crude on MCX is trading with a decline near Rs 8155. The fall in crude came because the tax on gasoline has been suspended for 3 months. Will crude prices fall further? Watch Commodities Live with Mrituenjay Kumar Jha.
As the central banks across the globe have started taking steps against the higher inflation by raising the interest rates, this has shown an impact on overall commodity prices, the managing editor said.
Oil prices dived more than $4 a barrel on Wednesday amid a push by U.S. President Joe Biden to bring down soaring fuel costs, including pressure on the country`s major energy firms to help ease the pain for drivers during peak summer consumption.
Tue, Jun 21, 2022
Oil prices swung higher in volatile trading on Monday, as traders focused on tight supplies over slowing global economic growth.
Mon, Jun 20, 2022
The crude oil on Friday slipped four-week low to around 7 per cent, as investors feared that interest rate hikes could slow the global economy and cut demand for energy, according to a Reuters report.
India’s condition with respect to inflation is good comparatively, however, some pockets of the economy see a little pressure, the managing editor added.
Recession is sure to come in America, how will the market survive? What will happen after recession arrives? How good is the fall in crude oil prices for the Indian market? How to trade by looking at crude oil? Know from Anil Singhvi.
Sat, Jun 18, 2022
Also pressuring prices, the U.S. dollar this week rose to its highest level since December 2002 against a basket of currencies, making oil more expensive for buyers using other currencies.
Fri, Jun 17, 2022
Oil prices edged lower on Friday and were on track for a weekly decline as interest rate hikes from major central banks fuelled worries about a sharp economic slowdown
Signs of a rise in crude oil. Talks worsened between America and Iran. Hopes of US-Iran nuclear deal seems to be weak. Neha has the full details of America's new sanctions on Iran.
Why did Anil Singhvi say - the US government took the wrong decision? Are more problems rising in crude oil? Know in this video.
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