Crude oil prices surged over 3% in futures trade after US President Donald Trump expressed doubts about the Iran ceasefire, reigniting fears of supply disruptions from West Asia and pushing Brent crude above USD 107 per barrel.
Crude oil prices have surged to record highs due to escalating tensions between the US and Iran, raising concerns about supply disruptions and market volatility.
Crude oil prices reached a new record high in futures trade, both domestically and internationally, as escalating military tensions between the US and Iran in West Asia continue to fuel market volatility. Diplomatic efforts concerning the Strait of Hormuz are being closely watched for potential price stabilisation.
Crude oil prices experienced a significant drop following the announcement of a US-Iran ceasefire and the reopening of the Strait of Hormuz, leading to heavy selling by traders.
The Multi Commodity Exchange on Wednesday launched India's first ever crude oil futures contract.
MCX launched contracts in gold, heating oil, gasoline, natural gas, sliver HNI and aviation turbine fuel (ATF). The futures contracts will expire between February and May and the trading specifications will remain unchanged, the exchanges said.
After a technology upgrade, the Multi Commodity Exchange of India (MCX) appears poised for an improvement in volumes. The premier commodity and forex exchange reported a loss of Rs 19.1 crore in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). This was attributed to higher software charges payable under an extended service agreement with 63 moons technologies and a one-off cost towards core guaranteed funds (CGF).
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
Gold is the first product for options trading that markets regulator Sebi has allowed after 14 years of commodity exchanges in the country.
Jewellery stores remained deserted as buyers deferred their non-essential purchases awaiting softness in gold prices.
In dollar terms, however, gold prices jumped by 26 per cent this calendar year, following sharp jump in hedge funds' long position
Stellar rally in ITC shares along with strength in the Asian equities capped the downside.
