Commodities

Commodities News

Oil prices little changed amid OPEC+ cut doubts, Mideast tension

Beijing (Reuters) – Oil prices held steady on Tuesday amid uncertainty over voluntary output cuts by the OPEC+ group of producers, tensions in the Middle East and weak economic data.

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Benign crude price outlook bodes well for India current account

Crude prices seen at $80-85/barrel through FY24 Brent crude registered a fall to a level of $80.6 per barrel despite the recent decision of the Organisation of Petroleum Exporting Countries.

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India’s tea production rises by 12.06 per cent to 182.84 million kg in October

Assam, the country’s largest tea-producing state, also registered a higher crop at 104.26 million kg in October. Tea production in the country increased by 12.06 per cent to 182.84 million.

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ATF price cut by 4.6 per cent; commercial LPG rate hiked by Rs 21

Price of domestic LPG – used in household kitchens for cooking purposes – remained unchanged at Rs 903 per 14.2-kg cylinder. Jet fuel or ATF price was on Friday slashed.

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Govt offloads over 4 MT of wheat in open market to curb prices

On Wednesday, the FCI sold 0.28 MT of wheat to 2,420 bidders in the weekly e-auction, which commenced in June, against 0.3 MT offered on sale for the flour millers.

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Oil prices fall, extend slide after OPEC+ cuts underwhelm

Brent crude futures for February fell 14 cents, or 0.2%, to $80.72 a barrel by 0005 GMT. U.S. West Texas Intermediate crude futures fell 12 cents, or 0.2%, to $75.84..

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Prices of basmati paddy up 14% on year as arrivals peak

Global demand and curns on exports push up mandi prices. Mandi prices of several varieties of basmati paddy are ruling 11-14% higher than the last year levels, one month after.

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Oil prices rise on weak dollar, expectations for OPEC+ output cuts

SINGAPORE (Reuters) -Oil prices rose slightly on Tuesday due to a weak dollar, and expectations that the OPEC+ producer group would deepen and extend output cuts due to fears demand.

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Subdued crude prices: H2 inflation outlook more stable now

Indian crude basket seen at $85-$90/barrel till year-end. The upside risk to inflation from crude oil prices that persisted till early October seems to have ebbed. Analysts have revised estimates.

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ONGC charges premium over Brent in oil deals with BPCL, HPCL

While the company got a slight premium over Brent – the crude oil its Mumbai offshore is closest in quality to – in the initial auction, refiners like Indian Oil.

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