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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.
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.
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.
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.
Spot gold rose 0.1% at $2,327.12 per ounce, as of 0202 GMT. Prices jumped more than 4% in the second quarter.
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.
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.
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.
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.
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.
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.
Brent futures for August delivery rose 7 cents, or 0.08%, to $86.06 a barrel at 0015 GMT, ahead of the contract's expiry later this week. The more actively traded September contract, rose 8 cents, or 0.09% to $85.23.
According to Geojit, the area under kharif crops in Telangana was at 2 mln acres (1 acre = 0.40 ha) as of Wednesday, drastically higher than the kharif crop area of 153,889 acres a year ago, according to data from the state government.
Brent crude futures slid 40 cents, or 0.5%, to $84.84 a barrel by 0036 GMT, after settling down 0.6% on Friday. U.S. West Texas Intermediate crude futures were at $80.34 a barrel, down 39 cents, or 0.5%.
According to Geojit, The southwest monsoon, whose progress had stalled for a few days, is likely to advance into some more parts of Gujarat, Madhya Pradesh, and Maharashtra over the next 3-4 days, the India Meteorological Department said on Thursday.
Brent futures for August delivery dipped 11 cents to $85.60 a barrel by 0013 GMT, while U.S. crude was down 9 cents to $81.20 per barrel.
According to Geojit, The country received a weighted average rainfall of 6.2 mm on Wedensday, 1% above the normal rainfall of 6.1 mm, the India Meteorological Department said.
Brent crude futures for August delivery rose 8 cents to $85.15 a barrel by 0008 GMT. U.S. West Texas Intermediate crude for June was down 27 cents, or 0.3%, to $81.30 per barrel.
According to Geojit, The southwest monsoon will likely cover some parts of Bihar and Jharkhand, remaining parts of sub-Himalayan West Bengal, some parts of Gangetic West Bengal, more parts of Maharashtra, Chhattisgarh, Odisha and coastal Andhra Pradesh during the next 3-4 days, the India Meteorological Department said on Tuesday.
Brent crude futures for August delivery rose 6 cents to $85.39 a barrel by 0016 GMT. U.S. West Texas Intermediate crude for June was up 10 cents to $81.67 per barrel.
According to Geojit, The El Nino weather phenomenon, which exacerbated the increase in global temperatures, has been replaced by El Nino Southern Oscillation-neutral conditions during the past month, the US National Oceanic and Atmospheric Administration said in a report.
Global benchmark Brent crude futures were up 21 cents, or 0.25%, at $84.46 per barrel at 0001 GMT. U.S. West Texas Intermediate crude futures were up 16 cents, or 0.2%, at $80.49 a barrel.
Commodity market participants will closely monitor Chinese home prices data, especially to assess the impact of recent measures aimed at the property market, with any disappointment potentially increasing calls for further stimulus.
According to Geojit, The advance of the southwest monsoon over Gujarat may get delayed as rainfall activity will likely weaken in the state over the next few days, private weather agency Skymet said.
Brent crude futures were down 72 cents, or 0.87%, to $82.04 a barrel at 0100 GMT. West Texas Intermediate (WTI) U.S. crude futures lost 79 cents, or 1%, to trade at $77.84 a barrel, reversing small gains in the previous session.
