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.

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.

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Rudra Investment Best Commodity Tips Expert says Barclays Bank has said in its new estimate that crude oil can touch the figure of $ 80 a barrel in the short term. It means that there is little hope of immediate relief from petrol and diesel prices.

For the continued increase in the prices of petrol and diesel, the central government is blaming the ongoing turmoil at the international level. At present, no announcement has been made regarding relief from his side. In such a case, if you are waiting for softening in crude oil, then it is currently difficult to meet.

Barclays Bank has said in its new estimate that crude oil can touch the figure of $ 80 a barrel in the short term. It means that the prices of petrol and diesel are less likely to be relieved in the coming days.

Barclays has said in its foreclosure report that there were concerns about crude oil in 2017. Its supply was also expected to be better. But now everything has changed. Earlier, the bank had estimated crude oil to be $ 55 per barrel by 2020.

But in its new report, the bank has said that in 2020 Brent Crude could remain at $ 75 a barrel. On the other hand, many OPEC countries supplying the oil are not able to supply supplies. "

Oil strategist Harry Chillinguran associated with BNP Paribas told the Reuters that supply of crude oil may be reduced in 2019. The production is down in Venezuela. This is going to affect the supply.

They have speculated that Brent Crude could live at $ 79 a barrel in 2019. Because of this, it is difficult to get relief from the rising prices of petrol and diesel even further.

At the international level, if crude oil prices continue to rise, then the government will have to take any action. Otherwise, it is difficult to get relief from fuel prices quickly.

Best Commodity Tips In The Today Market With | 04th Sep

Gold also got to see the softness on Tuesday. The dollar is almost a week's height due to the danger of trade war. It is affecting gold. However, Rudra Investment experts say that Best Commodity Tips, gold can be advantageous if the prices rise in emerging markets. Even in the domestic futures market, there was a trend of a slowdown in gold and silver in early trade.

On the Commodity exchange MCX, October delivery was trading at Rs. 30,232 per 10 gram with a weakness of Rs. 0.31 percent, or Rs. 95 per kg. It had a volume 1245 wave. Silver also found a weakness. Silver's September futures fell by 0.12 percent, or 46 rupees to Rs 36,770 per kilogram.

Check gold prices today

Gold in the overseas spot market dropped 0.1 percent to $ 1,199.40 an ounce. US Gold futures also fell 0.1 percent to $ 1,206 per ounce. The market sentiment is weak with the growing trade war between the US and China. U.S. President Donald Trump wanted to implement a plan to impose $ 200 billion import duty on China.

On the other hand, worrying about the growing crisis in Argentina, there has been concern about emerging markets. On Monday, Argentine President Mauricio Macri announced the reduction in government spending along with imposing new taxes on exports. Meanwhile, the central bank of Turkey also said on Monday that it will take big leverage for the price stability. From there, interest rates are expected to increase.