Move aims to raise crude backup to 90 days amid West Asia tensions; EIL preparing feasibility reports
Brent crude futures rose 12 cents, or 0.2%, to $67.80 a barrel by 0030 GMT. U.S. West Texas Intermediate (WTI) crude gained 20 cents, or 0.3%, to $65.12.
Gold rate today: The yellow metal's August contracts on the MCX opened at Rs 97,311 per 10 grams on June 25.
Brent crude futures rose 75 cents, or 1.1%, to $67.89 a barrel. U.S. West Texas Intermediate (WTI) crude gained 71 cents, or 1.1%, to $65.08.
Gold rate today: The precious metal's August contracts on the MCX opened at Rs 98,807 per 10 grams on June 24.
Global shares rallied, while oil prices slipped to a one-week low after Trump announced the Iran-Israel ceasefire.
India imports around 50 percent of its total natural gas requirement, out of which over 50 percent is supplied by two Gulf countries that ship LNG to India via the Strait of Hormuz route - Qatar and the UAE.
Since the conflict began on June 13, oil prices have been climbing amid fears that Iran could retaliate by disrupting the Strait of Hormuz — a vital shipping route through which about 20% of the world’s crude oil passes
Gold rate today: Yellow metal's August contracts on the MCX opened at Rs 99,100 per 10 grams on June 23.
A latest research note by UBS reveals that market participants will not witness prolonged disruption to oil supplies as they don't see escalation in the conflict.
The precious metal climbed as much as 0.8%, before paring most of that gain, after the US struck Iran’s three main nuclear sites.
Equity indexes in Japan and Australia fell less than 1% while Treasuries were little changed.
Looking ahead, traders may brace for heightened volatility as geopolitical tensions remain elevated, with Israel and Iran continuing to exchange missile strikes. Iran’s foreign minister stated that Tehran is willing to consider diplomacy only once Israel halts its aggression.
Gold rate today: Yellow metal's August contracts on the MCX opened at Rs 98,847 per 10 grams today.
India relies heavily on overseas crude purchases to meet its energy needs, and rising oil prices pose risks to both the country’s fiscal position and inflation outlook.
Gold rate today: Yellow metal's August contracts on MCX opened at Rs 99,202 per 10 grams today.
So far this year, gold has been surged close to 29 percent on safe haven buying amid rising geopolitical risks and tariff-related uncertainty, but platinum has posted a 49 percent rise, and is set to pip all precious metals for the month as well as for the quarter.
RBI has dramatically raised its gold holdings, mirroring a worldwide pivot to safer, non-dollar assets
New Delhi is set to import a total of 2.16 million barrels per day (bpd) of Russian oil in June - highest in last two years - preliminary data by global trade analytics firm Kpler showed, sharply higher than at 1.85 million bpd purchase in May.
Gold-silver ratio has also declined significantly, tracking the rise in silver and fall in gold’s prices.
Gold rate today: Gold's August contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 99,372 per 10 grams today.
A palladium and rhodium alloy containing gold is primarily used in jewellery for white gold, as well as for dental applications.
Silver rates today: The precious metal's futures contracts with August expiry hit an all-time high of Rs 1,09,250 per kg on MCX today.
Gold rate today: Gold's August contracts on the MCX opened at Rs 98,902 per 10 grams today.
Barring any major disruption to the oil market, the world is likely to be well-supplied over the next five years, Fatih Birol said.
