DATE: 23/04/2015
Base Metals & Energy
CRUDE OIL
Crude oil prices fell by 1.75 percent on Wednesday at the domestic markets after industry data on U.S. stockpiles showed solid builds across categories indicating that the demand for the commodity in US, world’s largest crude oil consumer is weak. The American Petroleum Institute said crude oil stocks rose by 5.5 million barrels last week, while distillate inventories gained 1.7 million barrels and gasoline supplies increased by 1.1 million barrels. At the MCX, crude oil futures for May 2015 contract were trading at Rs. 3,530 per barrel, down by 1.75 percent, after opening at Rs. 3,580 against the previous closing price of Rs. 3,593. It touched the intra-day low of Rs. 3,520 till the trading.
Crude oil prices fell by 1.75 percent on Wednesday at the domestic markets after industry data on U.S. stockpiles showed solid builds across categories indicating that the demand for the commodity in US, world’s largest crude oil consumer is weak. The American Petroleum Institute said crude oil stocks rose by 5.5 million barrels last week, while distillate inventories gained 1.7 million barrels and gasoline supplies increased by 1.1 million barrels. At the MCX, crude oil futures for May 2015 contract were trading at Rs. 3,530 per barrel, down by 1.75 percent, after opening at Rs. 3,580 against the previous closing price of Rs. 3,593. It touched the intra-day low of Rs. 3,520 till the trading.
Agro Outlook
CASTOR SEED
Castor seed prices fell by 0.14 percent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for May 2014 contract was trading at Rs. 3,655 per quintal tonnes, down by 0.14 percent, after opening at Rs. 3,655 against the previous closing price of Rs. 3,660. It touched the intra-day low of Rs. 3,635 till the trading.
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