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Bakers Hughes rig count. Oil rigs 365 versus 359 last week Gas rigs 96 versus 97 last week Total rigs 461 versus 456 last week Crude oil is trading at $71.16 Although higher, the reluctance to take rigs up to levels seen before the pandemic have been slow despite the rise back higher in crude oil prices. The industry
NEW DELHI: Copper prices on Friday traded up by 1.31 per cent at Rs 747.75 per kg in the futures market on the back of a pick-up in the spot demand. On the Multi Commodity Exchange, copper contracts for delivery in June traded higher by Rs 9.65, or 1.31 per cent, at Rs 747.75 per
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Negotiations called “intense” The talks to revive the Iran nuclear deal are resuming in Vienna on Saturday. European leaders called the negotiations “intense” with Germany calling for rapid progress. The talks kicked off with Iran, Russia, China, France, Britain, Germany and the EU gathered in a hotel. The US delegation is across the street as
NEW DELHI: Nickel prices were up 0.96 per cent to Rs 1,343.20 per kg in the futures trade on Friday, as speculators built up fresh positions on rising demand from alloy makers in the spot market. On the Multi Commodity Exchange, nickel contracts for the June delivery gained Rs 12.80, or 0.96 per cent, to
The intra-week rebound in global benchmark treasury yields was rather short-lived. Yields in Germany, US and Japan then turned south after ECB’s decision on PEPP purchases. That came even though CPI jumped to 13-year high. It remains to be seen of investors are giving a strong node to central bankers’ view that it’s transitory. Swiss
Oil prices continue to sizzle but Saturday’s Iran meetings are a big risk WTI crude oil rose 61-cents to $70.91 today and finished the week up 1.8% after a minor stumble on Monday. Oil is up $10 since May 21. At that time there were headlines indicating an Iran nuclear deal was close. The market
NEW YORK: Oil prices reached fresh multi-year highs on Friday, closing out a third straight week of gains on an improved outlook for worldwide demand as rising COVID-19 vaccination rates help lift pandemic curbs. Brent crude futures settled at $72.69 a barrel, rising 17 cents after reaching their highest since May 2019. For the week,
There are heavy weights event for Euro and Dollar today, but reactions are so far mild. ECB said it will continue the PEPP purchases at “significantly higher” pace in Q3. Yet, it also upgraded both growth in and inflation forecast for this year and next. Dollar shrug off very strong consumer inflation, as well as
Weekly US futures positioning data for the week ending June 11, 2021: EUR long 107K vs 109K long last week. Longs trimmed by 2K GBP long 27K vs 24K long last week. Longs increased by 3K JPY short 37K vs 47K short last week. Shorts trimmed by 10K CHF long 1K vs flat last week. Shorts increased
NEW DELHI: Aluminium prices rose 0.87 per cent to Rs 196.95 per kg in the futures trade on Friday, as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for the June delivery gained Rs 1.70, or 0.87 per cent, to Rs 196.95 per
Notable buying is seen in Dollar as markets enter into US session. There is no apparent reason for the rally, except that some traders could be adjusting positions ahead of the high profile G7 summit. Resilience in the Swiss Franc is affirm this pre-emptive risk aversion. Meanwhile, Sterling is also firm after solid GDP data.
A rather muted trading day so far Once again, major currencies are lacking much poise in European morning trade and there has been a sense of trepidation for much – if not the entirety – of the week. EUR/USD continues to keep in between 1.2100 and 1.2200 for the most part, showing little poise to
NEW DELHI: Gold prices rose Rs 441 to Rs 48,530 per 10 gram in the national capital on Friday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,089 per 10 gram. Silver also jumped Rs 1,148 to Rs 71,432 per kg, from Rs 70,284 per kg in the
Swiss Franc is generally firm as weekend approaches. Even though there was no follow through buying in Euro after ECB overnight, the common currency is somewhat support mildly by the strength in the Franc. Meanwhile, Yen’s selloff faded quickly, together with the rebound attempt in treasury yields. Dollar, Canadian Dollar and New Zealand Dollar are
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LONDON: OPEC stuck to its prediction of a strong world oil demand recovery in 2021 led by the United States and China, although it cited uncertainties around the path of the pandemic. In a monthly report on Thursday, the Organization of the Petroleum Exporting Countries said demand would rise by 5.95 million barrels per day