Friday, 12 August 2016

Latest Commodity Market News

Silver futures decline to Rs. 46,300 per kg 
Taking weak cues from global market, silver prices declined 0.52 per cent to Rs. 46,513 per kg at the futures trade today as participants reduced their positions. At the Multi Commodity Exchange, silver for delivery in September fell Rs. 242 or 0.52 per cent to Rs. 46,513 per kg in a business turnover of 911 lots. Likewise, the white metal for delivery in December traded lower by Rs. 241 or 0.50 per cent to Rs. 47,577 per kg in 27 lots. Analysts attributed the fall in silver prices at the futures trade to a weak trend in the precious metals overseas. Globally, silver was trading 1.15 per cent down at $19.87 an ounce in Singapore. 

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IEA: Crude Production to Fall Behind Demand 
The world’s production of crude oil is falling behind demand, the International Energy Agency said Thursday. From July through September, global production of crude oil is likely to lag behind demand by almost one million barrels a day, said the IEA, a Paris agency that monitors energy trends for oil-consuming nations. The current glut of crude is clearing out even as OPEC producers pump at record or near-record levels. “Our balances show essentially no oversupply during the second half of the year,” the IEA said in its monthly report.   

Crude oil oversupply is set to clear, IEA says 
The world’s crude-oil glut is gone. From July through September, global production of crude oil will fall behind demand by almost 1 million barrels a day, said the International Energy Agency, a Paris-based agency that monitors energy trends for oil-consuming nations. And the oversupply of crude is clearing out even as OPEC producers pump at record or near record levels. “Our balances show essentially no oversupply during the second half of the year,” the IEA’s monthly report said Thursday.

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