WEEKLY COMMODITY REPORT ON BASE METALS & ENERGY (01/12/2014)

Base Metals & Energy

Daily Buzz

CRUDE OIL

Crude oil futures fell 0.16 per cent to Rs 4,320 per barrel today as speculators indulged in reducing their exposures amid a weakening trend in Asian trade where it plunged to over four-year lows after the OPEC cartel refused to cut production. At the Multi Commodity Exchange, crude oil for delivery in far-month January 2015 contracts shed Rs 11, or 0.16 per cent, to Rs 4,320 per barrel in 262 lots. In a likewise manner, oil for December delivery moved down by Rs 8, or 0.15 per cent, to Rs 4,283 per barrel in 2,453 lots. West Texas Intermediate (WTI) crude for January delivery was at USD 69.04, while Brent curde for January traded at USD 72.59 a barrel on the New York Mercantile Exchange in late-morning trade today.

 

LEAD
Lead prices eased by 0.20 per cent to Rs 126.65 per kg in futures trade today after speculators reduced their exposures amid a weak trend overseas and subdued demand at spot markets. At the Multi Commodity Exchange, lead for delivery this month shed 30 paise, or 0.20 per cent, to Rs 126.65 per kg in business turnover of 115 lots. On similar lines, the metal for delivery in March shed 15 paise, or 0.10 per cent, to Rs 127.45 per
kg in 100 lots.