As we close the chapter on 2023, the last three weeks have revealed a compelling narrative in the U.S. petroleum market, accompanied by notable movements in West Texas Intermediate (WTI) and Brent crude oil prices. Let’s delve into the key highlights and their implications for the energy landscape. U.S. Petroleum Market Overview: Over the three-week …
The energy landscape is ever-changing, and staying abreast of the latest data is crucial for investors and industry stakeholders. In this comprehensive analysis, we will scrutinize the recent U.S. Energy Information Administration (EIA) data on crude oil, drawing comparisons between the past week and the current week. Additionally, we’ll explore other pertinent updates shaping the …
On December 7, 2023, the government limited the use of sugarcane juice and sugar syrup for ethanol production in ethanol supply year 2023-24 (November 2023 to October 2024). However, ethanol supply from existing bids received by oil marketing organisations from B heavy molasses, C heavy molasses, and cereals will continue. Background The sugarcane and sugar …
NSE USD INR (Technical): NSE USDINR Nov, as seen in the weekly chart above, has opened the week at 83.3350 levels. On the same of the week price, made a weekly high of 93.3375 levels. Later on, price corrected and reached a weekly low of 83.0175. At the mid session of week, price could not sustain itself at lower levels and rallied …
USDINR: In the last week, the Indian Rupee traded in a range bound manner as festive activities kept the trading volumes light. Apart from this, the Fitch Ratings on November 6 revised India’s medium-term growth estimate upward by 70 basis points to 6.2 percent from 5.5 percent. Download Report
Gold: Gold prices showed resilience and posted a notable upward trend during the week, poised for their first weekly gain in three weeks. The surge was propelled by a combination of factors, including investor confidence in the U.S. Federal Reserve’s decision to halt interest rate hikes, leading to a decline in the dollar and Treasury yields. Download Report
Gold: Gold prices experienced a retreat, reaching a two-week low, as the safe-haven rally prompted by Middle East tensions lost momentum. The focus shifted to interest rate cues from Federal Reserve officials, the strengthening dollar further contributed to the retreat across metals. Download Report
NSE USD INR (Technical): NSE USDINR Nov, as seen in the weekly chart above, has opened the week gap down to 83.2150 levels. At midday of the week, the price corrected and reached a weekly low of 83.0775. Later on, the price could not sustain itself at lower levels and rallied, reaching a weekly high of …
USDINR: In the last week, the Indian Rupee traded in a range bound manner as festive activities kept the trading volumes light. Apart from this, the Fitch Ratings on November 6 revised India’s medium-term growth estimate upward by 70 basis points to 6.2 percent from 5.5 percent. Download Report
Gold: The extended weakness in gold from the past few months continued to extend further, as the yellow metal concluded the August month marginally lower. Gold’s monthly performance was a story of initial promise followed by challenges. It kicked off the month with a rise in prices, benefiting from a weaker U.S. dollar and Treasury yields …
