Crude oil futures traded marginally decrease on Tuesday morning as bearish sentiments prevailed over demand for the commodity among the many individuals of the Asia Pacific Petroleum Convention (APPEC) in Singapore. At 9.54 am on Tuesday, November Brent oil futures had been at $71.76, down by 0.11 per cent, and October crude oil futures on … Read more
The federal government has minimize windfall tax on domestically-produced crude oil to ₹1,850 per tonne, from ₹2,100 per tonne with impact from Saturday. The tax is levied within the type of Particular Further Excise Responsibility (SAED). The SAED on the export of diesel, petrol and jet gas or ATF, has been retained at ‘nil’. The … Read more
India’s present account steadiness recorded a surplus within the fourth quarter (This fall) of FY24 after a spot of ten quarters at the same time as the present account deficit (CAD) for the complete monetary yr more-than-halved to a seven-year low. The nation’s present account steadiness recorded a surplus of $5.7 billion (0.6 per cent … Read more
Costs of commodities will doubtless decline marginally in 2024 and 2025 however they are going to stay 38 per cent above pre-pandemic ranges, the World Financial institution has stated in its newest Commodity Markets Outlook. In all, disinflationary tailwinds from moderating commodity costs seem primarily over, it stated. In contrast to costs for many different … Read more
Indian refiners exploited the US sanctions waiver on Venezuela to import greater than 1,75,000 barrels per day (b/d) crude oil from the South American nation making it the fifth largest provider in February. Additionally learn:US sanctions on Venezuela threaten to disrupt India’s crude oil imports Commerce sources and refiners mentioned that imports are persevering with … Read more
The adage “Promote in Might and go away” would have made sense had somebody gone brief on commodities in Might. Outcomes would’ve been even higher had they bought in March as a lot of the commodities peaked in that month! Particularly, all base metals are actually within the bear market territory after falling over 20 … Read more
Globally, power firms which can be into oil exploration and refining have had an excellent run over the previous yr. With international crude oil costs peaking above $120 barrel ranges, the final three quarters, notably, have been a bumper one for firms on this area. Traders in these shares additionally made neat beneficial properties. Pattern … Read more
Whereas India’s export numbers are encouraging, warning is warranted as a result of rising world tensions and unevenness in world progress, in line with a report by CRISIL Market Intelligence & Analytics (MI&A). What this implies is that sustaining export momentum is not going to be a simple job, opined Crisil’s Dharmakirti Joshi, Chief Economist; Adhish Verma, Senior Economist … Read more
A standard issue between successive finance ministers, prime officers, and us is concern over oil costs. Within the newest episode of the Energonomic podcast, Richa Mishra discusses the position of oil within the ever-changing geopolitical state of affairs. She explores the best value at which India can be comfy because it prepares to current a … Read more
2023 was a peaceful and secure yr for the Indian rupee. The home foreign money was caught in a slender vary of 80.88 to 83.45 all by means of the yr. Rate of interest hikes within the US, sturdy rise in US Treasury yields, geopolitical tensions, banking disaster — all these had been alleged to … Read more