Friday, 26 August 2016

Commodity Updates 26-Aug-2016

Oil prices dip as Saudi Arabia dampens prospects of output freeze 
Oil prices dipped in early trading on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month. International benchmark Brent crude oil prices were trading at $49.55 per barrel at 0114 GMT, down 12 cents from their previous close. U.S. West Texas Intermediate (WTI) crude was down 7 cents at $47.26 a barrel.
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RBI to review foreign commodity hedging framework 

The Reserve Bank of India (RBI) has proposed a review of the existing framework for hedging of commodity price risk in markets abroad. A working group of members from RBI, the Securities and Exchange Board of India, and a few external experts will do the review, RBI said on Thursday.

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