Commodity Tips : Crude Oil Price Today: Brent's Fast Return, But 4% Broken In The Week

Rudra Investment Expert says Commodity Tips Crude oil prices are getting faster today. On Friday, global benchmark Brent crude rose 0.40 percent to $ 80.50 an ounce. Brent crude prices fell nearly 3.4 percent on Thursday. On Thursday, Brent had slipped to $ 79.80 a barrel. Brent's price has dropped 4.2 percent this week.

On the same day, after the heavy fall in yesterday's October contract of crude oil on the domestic futures market ie the MCX was trading at around 5300 with the increase of 0.80%.

US West Texas Intermediate (WTI) futures also advanced 0.4 percent to reach around $ 71.23 a barrel. However, in the last session, its price slipped 3 percent. This week the US crude oil benchmark has slumped about 4 percent.

According to Emirates NBD, crude oil stocks in the US almost doubled from the estimates. In the US, crude oil stocks have increased by 60 million barrels, while analysts were estimated to increase by 2.6 million barrels.

The second major reason for the sharp fall in prices is that the OPEC group of crude oil producing countries has cut estimates of crude oil demand. According to OPEC, the demand for crude oil this year is estimated to increase from 12 lakh to 15 million barrels per day.

Commodity Tips | Gold And Silver Fall From China's Move

Rudra Investment expert says Commodity Tips China's gold and silver glow in the face of one step. On Monday, the commodity exchange MCX rose by Rs 194, or 0.61 percent, to Rs 31,449 per ten gram, with a contraction of Rs. Similarly, the silver contract for silver in MCX was Rs 394, or 1 percent, against Rs 38,880 per kilogram.

Gold price in the global market is about $ 1,195. In the domestic market, the discount in gold has gone up to 3.5 months at the upper level. Silver has also seen a sharp decline during this period. Its price on the Comex has dropped by nearly 1 percent to $ 14.5.

Why gold and silver prices fall?

Rudra Investment expert says Commodity Tips China's central bank has made a big difference in domestic monetary policy to support its economy. The People's Bank of China has made huge cuts in the cash reserve ratio of banks.

Actually, China has taken this step to track down its economy and to keep pace with the trade war with America. This will allow the companies there to get cheap loans easily. With the reduction of cash reserve ratio, China's financial institutions will be able to provide more loans. China's market is open after a 1 week holiday.

According to experts, the dollar has risen strongly in the rupee against other major currencies in the world.

According to the non-form payrolls released on Friday, the pace of jobs in the US in September was slow. However, the unemployment rate has come down to at least 3.7 percent of the 49-year-old. Meanwhile, the holding of the world's largest gold fund SPDR has dropped 0.20 percent to 730.17 tonnes.

Best Commodity Tips : Crude Oil Boom Fears Of Supply Disruption

Rudra Investment expert says Best Commodity Tips Crude oil prices have risen. The price of Brent crude reached around 85 barrels with the strength of 6 cents, while the price of WIT crude remained marginally upwards of $ 75 a barrel.

 Crude oil prices in the overseas market have reached the highest level since November 2014. Since August this year, Brent has hiked the price of 20% and WTI crude for 17%. On Wednesday, the price of crude oil was trading at Rs 5505 with a modest increase of 0.07 percent on MCX on MCX-MCX.

Businessmen say that the US sanctions imposed on Iran will be effective from 4 November. Due to this, the fears of supply disruption in the crude oil market remains intact.

Meanwhile, the Rudra Investment expert has said that in the last week, commercial crude supplies in the US increased 9 million 7 thousand barrels. Because of this, there has not been much increase in the prices of crude oil. At the same time, the stock of refinery crude dropped 1 lakh 58 thousand barrels per day. The official figures of crude oil stocks in the US will come today.

Best Commodity Tips expert says, "Oil prices are increasing at the high levels because the currency of emerging countries has declined. The possibility of OPEC's increase in production on the side of the members can lead to a sharp decline in prices.

Commodity Tips : Mentha Oil Rate, Mentha Oil Mergers Up On MCX

Rudra Investment expert says about Commodity Tips Mentha oil got a boost in on Monday. Today, in the domestic business, the price of October contract of Mentha Oil in the domestic futures market was trading up by half a percent. This is due to the demand for Mentha Oil from Pharma and FMCG companies.

Check the price of mentha oil

Around Rs 10.30 in the Multi Commodity Exchange (MCX), Mentha oil for delivery in October moved up by Rs. 7.20 or 0.43 percent to Rs. 1,688 per kilogram. During this, trading volumes remained in 218 lots.

Similarly, on the MCX, Mentha Oil's second close contract, November, futures prices moved up by Rs 9.90, or 0.58 percent, to Rs 1,707.50 per kg.

According to experts of Rudra Investment says Commodity Tips, the prices of Mentha Oil's major producing areas, Uttar Pradesh's Chandausi, Sambhal, and Barabanki, have helped in the prices. Sources in the market say that with strong demand from consumer industries in the Chandausi spot markets, the stockpiles have increased their stock positions. This has led to an increase in the prices of mentha oil in the futures trade.

Prior to the winter season, the drug and FMCG companies have increased their purchases. For this reason, the price of mentha oil has increased. Drug companies use Mentha Oil on a large scale in making cough syrup. FMCG companies use it to make confectionery products and toothpaste.