Commodities

Indian refineries scale back output as virus chokes demand

India's crude processing in March fell 5.7% from a year earlier, its biggest drop since September, as the coronavirus crisis and travel restrictions to curb its spread dented fuel demand and forced refineries to cut output.

A hunt for any storage space turns urgent as oil glut grows

Hundreds of millions of barrels of crude have gushed into storage worldwide in the past two months as the coronavirus-related lockdowns wiped out around a third of global oil demand.

Coronavirus pandemic | Oil rallies on hopes for unprecedented stockpile purchases

Benchmark US crude rose more than 3% in early trade on Wednesday, recovering from a 10% slump the previous session on hopes for purchases by consumer countries for their strategic stockpiles on a scale not before seen.

Coronavirus pandemic | Gold holds near one-month peak as COVID-19 worries deepen

Gold prices were little changed on Monday but held near a one-month high scaled last week as mounting worries about the global economic outlook due to the novel coronavirus outbreak.

Coronavirus pandemic | Oil rallies as deal takes shape before key meeting

Oil prices extended gains Thursday after Russia signalled it was ready to cut output before a key producers' meeting aimed at boosting energy markets as the coronavirus pandemic strangles demand.

Coronavirus pandemic | Gold holds steady, stronger dollar weighs

Gold prices held steady as a stronger dollar countered risk-off sentiment stemming from fading optimism over signs of a slowing spread of the new coronavirus amid rising deaths.

ONGC sells June-loading Russian Sokol crude at record discount: Sources

Demand for crude grades like Sokol, which yields more middle distillates such as jet fuel and gas oil after refining, has weakened sharply.

Here’s why oil can touch $10 a barrel

The oil market is hit on all fronts –rising supply, falling demand and lack of storage space

Coronavirus pandemic: Sebi, commodity exchanges in talks to continue trading without spot market

As key states such as Maharashtra, Gujarat, Rajasthan and Punjab have been placed under lockdown until March 31, many commodity traders have raised concerns over the derivatives market operations.

Tightening commodity margins – good intentions that will ruin the market

The new rules are likely to make the commodity markets illiquid.

Gold may touch new highs but for reasons other than the Middle East crisis

The underlying fundamental conditions continue to remain weak for gold

How commodities stack up in 2020: Some shine, some bite

News flows on the US-China tariff deal will have a significant bearing on commodity prices in the near future

Has the coal sector reached an inflexion point?

Coal consumption as a fuel for power generation is expected to decline for the first time in recorded history

Silver futures slip by Rs 174 on low demand

Silver contracts for December delivery traded lower by Rs 174, or 0.38 percent, to Rs 45,870 per kg in a business turnover of 3,033 lots on the MCX.

Crude oil futures fall on low demand

Crude oil contracts for October delivery traded lower by Rs 35, or 0.86 percent, at Rs 4,048 per barrel with a business volume of 14,562 lots on the MCX.

Crude oil futures fall on low demand

Crude oil for delivery in October was trading lower by Rs 10, or 0.19 percent, at Rs 4,143 per barrel with a business volume of 16,009 lots on the MCX.

Silver futures soar on global cues

Silver contracts for December delivery rose by Rs 832, or 1.79 percent, to Rs 47,297 per kg in a business turnover of 5,969 lots on the MCX.

Petrol price jumps Rs 1.59/ltr, diesel Rs 1.31/ltr after Saudi oil attacks

This is the sixth straight daily increase and has taken the cumulative price hike since September 17 to Rs 1.59 per litre in case of petrol and Rs 1.31 for diesel.

Commodities@Moneycontrol | Gold falls below $1500

Here is a roundup of all the key happenings in the commodities market.

Gold prices break losing streak, move higher as investors await rate cut at ECB meet

As of 9:44 am IST, spot gold was up 0.3 percent at $1,490.09 per ounce

Crude oil futures fall 1.01% on global cues

Crude oil contracts for September delivery traded lower by Rs 41, or 1.01 percent, at Rs 4,034 per barrel with a business volume of 28,055 lots on MCX.

Gold futures slip on weak global cues

At the MCX, gold prices for delivery in October fell by Rs 326, or 0.82 percent, to Rs 39,497 pe 10 gram in a business turnover of 1,798 lots.

Silver futures up on firm global trend

At the MCX, silver for delivery in September gained 1.56 percent, or Rs 774 to Rs 50,452 per kg in turnover of 39 lots.

Gold futures weaken on spot demand

At the MCX, gold for delivery in October was trading lower by Rs 43, or 0.11 percent, to Rs 39,637 per 10 gram in a business turnover of 3,221 lots.