Upcoming Webinar:'COLLECTIVE FORCE: India Inc. unites to tackle the second wave of COVID-19' on June 23, 11 am. Register Now!

Crude Oil prices to trade sideways today: Angel Commodities

According to Angel Commodities, MCX CPO decline on Monday tracking weak trend in Malaysia palm oil. Moreover, cut in tariff value for the palm oil imports and steady physical demand is keeping the prices in a range.

August 14, 2018 / 12:32 PM IST
Saudi Arabia, the second largest producer of crude oil to world, faced an attack on its oil infrastructure facilities on September 14, which caused a sharp increase in fuel prices. Do you know where petrol prices were the highest? Here's a list of the countries where petrol is the cheapest and most expensive. (Note: All price comparisons are on rupee terms only. Global rates as of September, 16 2019 - Image: Reuters)

Saudi Arabia, the second largest producer of crude oil to world, faced an attack on its oil infrastructure facilities on September 14, which caused a sharp increase in fuel prices. Do you know where petrol prices were the highest? Here's a list of the countries where petrol is the cheapest and most expensive. (Note: All price comparisons are on rupee terms only. Global rates as of September, 16 2019 - Image: Reuters)


Angel Commodities' report on Crude Oil


MCX CPO decline on Monday tracking weak trend in Malaysia palm oil. Moreover, cut in tariff value for the palm oil imports and steady physical demand is keeping the prices in a range. The base import price of crude palm oil has been cut to $578 per tn from $614 per tn earlier. Moreover, govt cuts RBD palm oil base import price to $5 99/tn vs $629/tn. Based on global prices and fluctuations in foreign exchange rates, the government revises base import prices every fortnight.


Outlook


CPO futures may trade sideways due to weak pal m oil in International market. Moreover, higher domestic stocks and steady domestic demand may keep the prices in a range.


For all commodities report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

first published: Aug 14, 2018 12:32 pm

stay updated

Get Daily News on your Browser
Sections