Oil prices tick up as crude, gasoline inventories ease
Brent futures rose 35 cents, or 0.4% to $85.43 a barrel. U.S. West Texas Intermediate (WTI) crude rose 36 cents, or 0.5%, to $82.47 a barrel.
Agri Picks Report July 10, 2024: Geojit Financial Services
According to Geojit, The area under kharif crops in Maharashtra rose 171% on year to 11.1 mln ha as of Monday, according to the state agriculture department.
Gold rangebound with spotlight on US inflation reading
Spot gold rose 0.2% to $2,367.79 per ounce by 0229 GMT. U.S. gold futures climbed 0.3% to $2,374.10.
Oil rebounds as US stockpiles drop, interest rate cut outlook brightens
Brent futures rose 21 cents to $84.87 a barrel by 0055 GMT, after falling 1.3% in the previous session.
Agri Picks Report July 09, 2024: Geojit Financial Services
According to Geojit, Farmers across the country have sown kharif crops over 37.9 mln ha as of Monday, up 14% from a year ago, data from the farm ministry showed.
Gold edges higher as investors await Powell's testimony
Spot gold was up 0.1% at $2,361.77 per ounce, as of 0208 GMT, after falling more than 1% on Monday. U.S. gold futures firmed 0.3% to $2,369.70.
Oil prices little changed, concerns about damage from hurricane ease
Oil prices were little changed early on Tuesday after a hurricane that hit a key U.S. oil producing hub in Texas caused less damage than expected.
Brent futures fell 4 cents to $85.71 a barrel by 0113 GMT, while U.S. West Texas Intermediate (WTI) crude fell 5 cents to $82.28.
Although oil refining activity slowed and some production sites were evacuated, major refineries along the U.S. Gulf Coast appeared to see minimal impacts from Hurricane Beryl, which weakened into a tropical storm after hitting the Texas coast.
That eased market worries about the risk of supply disruptions in Texas, where 40% of U.S. crude oil is produced.
Major oil-shipping ports around Corpus Christi, Galveston and Houston had been shut ahead of the storm. The Corpus Christi Ship Channel reopened on Monday and the Port of Houston was projected to resume operations on Tuesday afternoon.
Market participants are also keeping an eye on the situation in the Middle East for more trading cues. Oil prices settled down 1% on Monday amid hopes a possible ceasefire deal in Gaza could reduce worries about global crude supply disruptions.
Senior U.S. officials were in Egypt for talks on Monday, but gaps remained between the two sides, the White House said, and Hamas said a new Israeli push into Gaza threatened the potential agreement.
Hamas last week had dropped a demand for Israel to commit to a permanent ceasefire, which Israelis said opened the way for a deal.
Agri Picks Report July 08, 2024: Geojit Financial Services
According to Geojit, The UN Food and Agriculture Organization's food price index was steady on month at 120.6 points in June as the increase in price indices for vegetable oils, sugar, and dairy products balanced out a decrease in the price index for cereals, while the meat index was almost unchanged.
Gold lingers near one-month high on Fed rate-cut bets
Spot gold was down 0.2% at $2,385.88 per ounce, as of 0235 GMT, after rising to its highest level since May 22 on Friday. U.S. gold futures eased 0.1% to $2,394.50.
Oil little changed as investors eye impact of storm Beryl on Texas
Brent crude futures inched up 11 cents, or 0.1%, to $86.65 a barrel as at 0042 GMT after closing down 89 cents on Friday.
Commodity markets await more supportive data next week to solidify expectations for Fed rate cut in September
Fed Chair Powell's testimony will be closely watched, although it's unlikely he will provide hints on the monetary policy outlook.
Agri Picks Report July 05, 2024: Geojit Financial Services
According to Geojit, Kharif sowing in Karnataka surged 218% on year to 4.2 mln ha as of Friday, according to state government sowing data.
Oil prices on track for fourth straight week of gains
Brent crude futures, which have risen 7% over the last four weeks, slipped 2 cents to $87.41 a barrel by 0143 GMT.
Agri Picks Report July 04, 2024: Geojit Financial Services
According to Geojit, The Indian Sugar and Bio-Energy Manufacturers Association has reiterated its earlier forecast of a sugar surplus of up to 3.6 mln tn for the 2023-24 (Oct-Sep) sugar season and has urged the government to allow exports, according to a release today.
Oil prices slip after data points to cooling US economy
Brent crude futures were down 30 cents, or 0.34%, at $87.04 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 32 cents, or 0.38%, to $83.56 by 0030 GMT, with activity thinned by the U.S. Fourth of July holiday.
Agri Picks Report July 03, 2024: Geojit Financial Services
According to Geojit, The southwest monsoon current today covered the whole of India, six days ahead of the normal date, which is Jul 8, the India Meteorological Department said.
Agri Picks Report July 02, 2024: Geojit Financial Services
According to Geojit, The southwest monsoon current is likely to advance to the remaining parts of Rajasthan, Punjab, and Haryana over the next 2-3 days, the India Meteorological Department said on Monday.
Gold holds ground as slowing inflation boosts Fed rate-cut bets
Spot gold rose 0.1% at $2,327.12 per ounce, as of 0202 GMT. Prices jumped more than 4% in the second quarter.
Commodity markets to focus on US Jobs data, comments from Fed chair for clearer insights on policy outlook next week
Crude oil prices may remain supported as a wider conflict could potentially involve Iran and open up a multi-front war in the region, posing a risk to energy supplies.
Agri Picks Report June 28, 2024: Geojit Financial Services
According to Geojit, The area under paddy in Telangana this kharif season was at 72,243 acres as of Wednesday, up 340% from 16,408 acres a year ago, according to official data.
Oil prices edge higher as supply risks mount
Brent crude futures for August settlement, which expire on Friday, rose 15 cents, or 0.2% to $86.54 a barrel by 0020 GMT. The Brent contract for September was also up 0.2% at $85.44 a barrel.
Oil prices slide on fears of slow US demand after surprise inventory build
Brent crude oil futures fell 30 cents, or 0.4%, to $84.17 a barrel by 0028 GMT. U.S. West Texas Intermediate crude futures lost 32 cents, or 0.4%, to $80.58 per barrel.
Agri Picks Report June 26, 2024: Geojit Financial Services
According to Geojit, the southwest monsoon current is likely to advance to northern parts of Punjab and Haryana, some parts of Uttarakhand and Uttar Pradesh, and the remaining parts of Gujarat and Madhya Pradesh over the next 3-4 days, the India Meteorological Department said on Tuesday.
Agri Picks Report June 25, 2024: Geojit Financial Services
According to Geojit, the government has imposed a stock limit on wheat for wholesalers, retailers and other trade entities with effect from today, Food Secretary Sanjeev Chopra said.
