Crude prices seen at $80-85/barrel through FY24 Brent crude registered a fall to a level of $80.6 per barrel despite the recent decision of the Organisation of Petroleum Exporting Countries.
Assam, the country’s largest tea-producing state, also registered a higher crop at 104.26 million kg in October. Tea production in the country increased by 12.06 per cent to 182.84 million.
Price of domestic LPG – used in household kitchens for cooking purposes – remained unchanged at Rs 903 per 14.2-kg cylinder. Jet fuel or ATF price was on Friday slashed.
On Wednesday, the FCI sold 0.28 MT of wheat to 2,420 bidders in the weekly e-auction, which commenced in June, against 0.3 MT offered on sale for the flour millers.
Brent crude futures for February fell 14 cents, or 0.2%, to $80.72 a barrel by 0005 GMT. U.S. West Texas Intermediate crude futures fell 12 cents, or 0.2%, to $75.84..
Global demand and curns on exports push up mandi prices. Mandi prices of several varieties of basmati paddy are ruling 11-14% higher than the last year levels, one month after.
SINGAPORE (Reuters) -Oil prices rose slightly on Tuesday due to a weak dollar, and expectations that the OPEC+ producer group would deepen and extend output cuts due to fears demand.
Indian crude basket seen at $85-$90/barrel till year-end. The upside risk to inflation from crude oil prices that persisted till early October seems to have ebbed. Analysts have revised estimates.
While the company got a slight premium over Brent – the crude oil its Mumbai offshore is closest in quality to – in the initial auction, refiners like Indian Oil.
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell on Monday, with the Brent benchmark dipping below $80 a barrel as investors awaited this week’s OPEC+ meeting and expected curbs on.
