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The excitement brought by OPEC+’s agreement to extend the output cut deal for a month to July short-lived. Crude oil price only climbed modestly higher after the news. Gains were quickly evaporated. Concerning OPEC+, the market is mainly concerned about compliance by some participants. A survey by S&P estimated that OPEC’s 13 members lowered production
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Stock markets are generally mixed today as NASDAQ seems unstoppable. But other indices, in Asia, Europe and even US look sluggish. OECD noted the equal probability of having a second wave of coronavirus spread or not. But that’s largely ignored by investors. In the currency markets, Dollar is back under pressure ahead of FOMC, trading
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KUALA LUMPUR: Malaysian palm oil futures rose for a third straight session on Wednesday, though trading was cautious ahead of the release of official May supply and demand data, and cargo surveyors’ export numbers for the first 10 days of this month. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives
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National Commodity and Derivatives Exchange Limited (NCDEX) is set to publish two national-level rainfall-based indices on June 10, 2020 that would track the systematic rainfall movement in the country – the Indian Monsoon Index (Cumulative Monsoon Index) and Indian Rain Index (Monthly Cumulative Rainfall Index). NCDEX has partnered with Skymet Weather Services Private Limited, which
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NEW DELHI: Gold and silver prices slipped on Tuesday, bucking the trend in global bullion markets as equities continued to rally on hopes of swifter recovery in the markets. Total number of Covid-19 patients in India reached over 2.6 lakh while fatalities climbed to 7,300 levels. This is despite India having enacted strictest lockdown in
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Asian markets are relatively quiet as another week starts. There is no follow through from Friday’s strong rally in the US. Trade data from China released over the weekend also provide little inspirations. There is also practically no reaction to the massive global “Black Lives Matter” protests, nor intensifying US-China spats. NASDAQ hit new intraday
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DUBAI/LONDON/MOSCOW: Saudi Arabia will boost output in July to match its output Opec quota while ending deeper, voluntary cuts amid signs of global demand recovering, the Saudi energy minister said on Monday. Opec, Russia and other producers agreed on Saturday to extend record output cuts of 9.7 million barrels per day (bpd) into July, curbing
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