Gold Silver Reports (GSR) – The government under Budget 2018 allocated Rs 24,933 crore as petroleum subsidy for the present financial year 2018-2019, a mere 2% increase over the Revised Estimate of Rs 24,460 crore allocated last financial year.
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Crude Oil Down as Trump, France’s Macron Talk Iran Deal
Gold Silver Reports (GSR) – Crude Oil Down as Trump, France’s Macron Talk Iran Deal — U.S. President Donald Trump and French President Emmanuel Macron pledged to seek stronger measures to contain Iran. At a joint news conference, Trump did not repeat threats to withdraw from the 2015 nuclear agreement but made clear he has little patience for it.
India’s Crude Oil Imports Rise 2.9% In March
Gold Silver Reports (GSR) – India’s Crude Oil Imports Rise 2.9% In March – India’s crude oil imports rose 2.9 percent (YoY) to 18.7 million tonnes in March.
Trump Slams OPEC for Inflating Prices, Crude Oil Erases Gains
Trump Slams OPEC for Inflating Prices, Crude Oil Erases Gains -Crude Oil fell in New York after U.S. President Donald Trump criticized OPEC and said crude prices are “artificially Very High.” Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully …
Braking News; Base Metals Drift Lower on LME; Novelis No Longer Purchasing Aluminium from Rusal; China to ban Category 7 Copper Scrap Imports by Year End
The latest Base Metals news and price moves to start the Asian day on Friday April 20.
Base metal prices on the London Metal Exchange were lower at the close of trading on Thursday April-19-2018 despite aluminium volumes reaching a recordHigh of 41,000 lots. Read more in our live futures report.
Oil Retailers Fall As Brent Crude Tops $74
Gold Silver Reports (GSR) – Crude Oil Retailers Fall As Brent Crude Tops $74 — Shares of the state-run oil retailers fell after Brent Crude price rose above $74 a barrel, its highest level since May 2015.
Crude Oil Rises Amid Shrinking U.S. Surplus as OPEC Prepares to Gather
Gold Silver Reports (GSR) – Crude Oil Rises Amid Shrinking U.S. Surplus as OPEC Prepares to Gather – Futures in New York briefly surged almost 3 percent on Wednesday to the highest since 2014. An Energy Information Administration report showed shrinking American petroleum surpluses and the first crude withdrawal from the largest U.S. storage complex in six weeks. The U.S. draw-downs underlined optimism that an OPEC-led effort to curb global supplies will be reinforced later this week when the cartel and allied producers gather in Saudi Arabia.
Canada Oil Recovery Faces Threat From Potential Rail Strike
Gold Silver Reports (GSR) – Canada Oil Recovery Faces Threat From Potential Rail Strike — On Tuesday, the Teamsters Canada Rail Conference and the International Brotherhood of Electrical Workers each gave Canadian Pacific a 72-hour strike notice informing the company of their plans to strike at 12:01 a.m. eastern time on April 21.
OPEC Russia Talks Set to Keep Oil Cuts Even as Glut Vanishes
Gold Silver Reports (GSR) – OPEC Russia Talks Set to Keep Oil Cuts Even as Glut Vanishes – Almost 16 months of output curbs by the Organization of Petroleum Exporting Countries and its partners have seen crude rally to a three-year high near $70 a barrel. That’s replenishing their coffers after the worst oil slump in a generation, encouraging the producers to extend their intervention even as Venezuela’s petro-economy implodes and Donald Trump threatens Iran with sanctions.
Base Metals Prices Broadly Down, Aluminium Runs into Profit-Taking; LIVE FUTURES REPORT
Gold Silver Reports (GSR) – Base Metals Prices Broadly Down, Aluminium Runs into Profit-Taking; LIVE FUTURES REPORT — The most-traded June aluminum contract on the SHFE traded at 14,850 yuan ($2,363) per tonne as of 11.30am Shanghai time, down by 70 yuan per tonne from Tuesday’s close.