commodities

India stopped purchasing Iranian oil after US waivers expired: Envoy

The US reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between Tehran and six world powers.

Oil slumps 5%, US crude at its cheapest since March

World shares were deep in the red as concerns grew the China-US trade conflict was fast turning into a technology cold war between the world's two largest economies.

Oil continues slide on US crude stockpiles surge

US West Texas Intermediate (WTI) crude futures were down by 43 cents at $60.99 per barrel, after falling 2.5% the previous day.

Aluminium futures slip 0.38% on low demand

On the Multi Commodity Exchange, aluminium for delivery in May contracts eased by 29 paise, or 0.38 per cent, to Rs 143.30 per kg in a business turnover of 1,230 lots.

Silver futures fall by Rs 29 on profit-booking

On the Multi Commodity Exchange, silver for delivery in July contracts dipped by Rs 29, or 0.08 per cent, to Rs 36,280 per kg, clocking a business volume of 28,602 lots.

Gold futures down 0.21% on weak global cues

On Multi Commodity Exchange, gold for delivery in June contracts was down Rs 66, or 0.21 per cent, at Rs 31,356 per 10 grams in a business turnover of 6,525 lots.

Commodity Compass | Iron ore prices could be a chartbuster in 2019

Iron ore prices have crossed $100 per tonne and the bullish view is they could go higher. But don’t close your eyes to the risks.

Oil prices down on swelling US stockpiles, demand concerns

Brent crude futures were down 41 cents at $71.77 a barrel by 1339 GMT. US West Texas Intermediate (WTI) crude futures for July delivery were down 67 cents at $62.46.

Corporate corridor | Norsk Hydro’s alumina refinery caps removed, raises prospect of lower costs

Norsk Hydro's Alunorte alumina refinery is finally allowed to function at full capacity. What this could mean for Indian aluminium companies

Commodities@Moneycontrol | What happened in the commodity space today?

Here's a roundup of key happenings in the commodities market.

Gold falls to near two-week low as dollar strengthens

The dollar index gained, holding near a two-week high against a basket of currencies, making gold more expensive for holders of other currencies.

India flips to discount on gold as prices gain; demand dips in top hubs

Gold futures in India, the world's second biggest bullion consumer after China, jumped to 32,538 rupees per 10 grams earlier this week, a peak since March 4.

Oil lifted to $73 by real and threatened supply cuts

US sanctions on Iran have cut the OPEC member's crude exports further in May, adding to supply curbs resulting from an OPEC-led pact. Meanwhile, rising tension in the Middle East this week has raised concern about additional supply disruption.

Commodity Compass | Trade wounds are festering. Better take guard for copper

Demand supply dynamics is pointing to a crunch situation ahead. Any trade deal between the US and China may stoke prices further

Crude oil futures up amid positive global cues

Analysts said raising of bets by participants kept crude prices higher at futures trade here.

Gold loses sheen in futures trade

Analysts attributed the fall in gold futures to profit-booking by traders in the domestic markets.

Gold headed for worst one-day drop in a month as dollar, equities rise

Spot gold slipped 0.7% to $1,288.03 per ounce as of 11:07 a.m. EDT (1507 GMT). Prices were on track for their biggest percentage decline since April 16.

In limbo: the dirty Russian oil no one wants to pay for

The buyers want Russian producers to give guarantees in the form of bank deposits that they will contribute to the clean-up, or delay payments due this week until the crisis is resolved, said a source at European refiner, who declined to be named.

Saudi Arabia accuses Iran of ordering drone attack on oil pipeline

The attack 'proves that these militias are merely a tool that Iran's regime uses to implement its expansionist agenda,' tweeted Prince Khalid bin Salman, a son of King Salman.

Demerger of consumer business – what it means for Tata Chemicals

Gold futures slide 0.02% on low demand

Analysts said off-loading of positions by participants to book profits and a weak trend in the domestic markets, mainly influenced gold prices at futures trade here.

Commodity Strategy: Sell crude oil on rise in the range of Rs 4,350-4,360/bbl

The concerns over US-China trade war will bring down the crude oil following weakness in global growth

Saudi Arabia says oil facility attacks target world supplies

The Saudi tankers Al-Marzoqah and Amjad suffered 'significant damage' in as yet unexplained sabotage attacks in the Sea of Oman off the United Arab Emirates on May 12, Energy Minister Khalid al-Falih said, but there were no casualties or any oil spill.

Gold futures fall 0.13% on weak global cues

On the MCX, gold for delivery in June contracts was trading lower by Rs 42, or 0.13 percent, to Rs 32,199 per 10 gram in a business turnover of 9,005 lots.

OPEC sees more 2019 demand for its oil as it keeps cutting output

Vienna-based OPEC trimmed its estimate of oil supply growth from outside the group in 2019 and said the rapid rise in production of US tight oil, another term for shale, was moderating.