Commodity Market Expert: Crude Dropped From Supply In The US

Rudra Investment Commodity Market Expert Said Supply in the US increased the crude oil prices in the international market today. Brent crude was trading 0.40 percent lower at $ 71.44 a barrel around 12 o'clock on Thursday. Brent Crude is considered to be a benchmark for crude oil prices in nearly 75% of the world's share.

At the same time, US West Texas Intermediate (WTI) crude was trading nearly half a percent and was trading around $ 64.28 a barrel. This year, Brent has seen a 30 percent jump, while WTI has grown 40 percent. Talking about the domestic market, on Thursday, MCX was trading at Rs 4443 with crude oil futures of Rs 31 or Rs 0.70.

The expertise of Commodity Market Expert says that crude oil prices have declined due to the rise in crude oil production in the US and signs of softening in the global economy. According to official figures released in the US on Wednesday, crude oil stocks have increased by 7 million barrels in the past week. In this way, the production of crude oil in the US remains at a record level of 12.2 million barrels per day.

This is the first time since November 2017 when crude oil production reached this height. At present, crude oil production is the highest in the world. After US, Russia and Saudi Arabia are second and third in the production of crude oil. The US and Russia are not members of the OPEC while Saudi Arabia is a member of OPEC Club.

Free Commodity Tips: Crude Oil At A Height Of 5 Months

According To Free Commodity Tips Expert, Crude oil prices in the international market reached a 5-month high. This is the first time since November last year when Brent crude and WTI crude prices have reached this height. On Monday, Brent crude jumped nearly half a barrel to $ 71 a barrel. US West Texas Intermediate (WTI) crude was trading 0.60 percent and was trading around $ 63.50 a barrel. This year, Brent has seen a 30 percent jump, while WTI has also increased 40 percent.

Talking about the domestic market, around 12 o'clock in the afternoon, crude oil futures on MCX was trading at Rs 4413 with an increase of 1.17 percent.

Share market analysts Free Commodity Tips Expert say that crude oil prices are on the rise due to continuing to cut supplies to member countries of OPEC. Last year, OPEC had announced 12 million barrels per day (BPD) cut in supply, which is still going on.

Apart from this, due to US sanctions on Iran and Venezuela, crude oil supply has come down. Because of this, crude oil has a steady enlargement trend. Due to US sanctions, Venezuela's estimated crude oil production is estimated to be 5 million barrels per day. On the other hand, due to the sharp increase in employment figures in the US last week, it has strengthened the fact that the fear of lethargy in the US economy has come down. Due to this, the demand for crude oil is being seen as a sign of the increasing trend.

Free Commodity Tips Expert: Mentha Oil Continues To Decline, Selling Advice

SEBI Registered Free Commodity Tips Expert Mentha oil prices continue to refuse. In the initial trading on Friday, Mentha Oil's April contract fell by Rs 1.60 or 0.10 per cent to Rs 1,534 per kilogram on the MCX.

According to Rudra Investment Financial Services the price of Mentha Oil remained below the critical level of Rs. 1550. This trends can continue even further.

In view of this, mentha oil is advised to sell in April contract. They says that the price of Rs 1545 should be sold at Mentha Oil. Keeping a stop loss at a price of Rs 1555, the target of 1500 rupees per kg should be made in two seasons. Selling is continuing in the market before arrival of new crop. The new crop of mentha will start coming in markets around May 15.

According to Rudra Investment Free Commodity Tips Expert, the BASF SE, a German manufacturer of synthetic mentha, has resumed delivery of synthetic mentha oil. This step will also cause heaviness on prices in the domestic market. BASF is the world's largest maker of synthetic mentha.

Apart from this, the weak demand for mentha oil from the US and China may also see further fall in Mentha Oil prices. In today's session, it is advisable to sell MCX around Rs 1540-45. By next week, the price can slip to Rs 1,480 per kg.

Get Free Trading Tips From Commodity Market Expert

Get Free Trading Tips From Rudra Investment Commodity Market Expert Crude oil prices fell on Thursday. Brent crude prices fell marginally to $ 69.29 a barrel in the international market for June delivery. In almost 75% of the world, Brent Crude is used as a benchmark for crude oil prices. Brent crude prices have soared by about 30 percent in 2019.

Similarly, US West Texas Intermediate (WTI) futures came down 0.20 percent to $ 62.50 a barrel. Since January this year, WTI crude prices have risen 40%.

According to Commodity Market Expert, crude oil stocks in the US increased by 72 million barrels last week, while the market's estimated 42.5 million barrels were to be depleted. Because of this, Brent crude prices slipped after reaching an extremely close psychological level of $ 70 a barrel. Not only that, the production of crude oil in the US has reached one million barrels of food and reached around 12.2 million barrels. Due to this, pressure on crude oil prices was seen.

However, the commodity market analysts say that the US has indicated further sanctions on Iran. For this reason, there is a sign of lack of supply of crude oil from Iran. Apart from this, the supply of crude oil has reduced due to a blockage in Venezuela's terminal.

Best Commodity Tips Provider Trading Ideas To Earn Massive Profit

The Second Trading Day Of Month Report By Rudra Investment Best Commodity Tips Provider Rupee plunged by 20 paise to 69.36 against the US dollar in early trade on Tuesday due to the strengthening of the dollar. Meanwhile, the Reserve Bank of India (RBI) on Monday said that it will again put a $ 5 billion capital to the domestic banking system through the dollar-rupee purchase-sale swap process.

The Reserve Bank will put this money back in the banking system over a period of three years. From April 23, the Dollar-Rupee purchase-sale swap process will begin. For the second time in a month, the Reserve Bank is going to take such a step.

According To Best Commodity Tips Provider, The news of swap auction came in the market before the RBI meeting. This week's meeting of RBI on the issue of interest rates is this week. It is believed that the central bank can take a decision to cut interest rates in this policy meeting. Apart from this, further signs of softening in rates from RBI may put pressure on the rupee. However, the swap auction process will increase India's foreign exchange reserves. However, there is a concern also that using forex swaps, RBI may reduce investment in the debt market.

Rudra Investment Financial Services said, "Today, the dollar exchange rate is expected to bid in the range of 69.20 and 69.80." Despite weak retail sales figures from the US, the dollar continues to be stronger than other major currencies. This week, the upturn in the dollar may increase because important data of non-form payroll will continue in the US. Better than expected, the dollar may continue to grow faster.

Commodity Tips Expert: Mentha Oil Below 1600, Such A Raise Advantage

As a Commodity Tips Expert Report Mentha oil reached below Rs 1600. However, on the first day of the new week, it grew fast. On the commodity exchange MCX, on the MCX, Mentha Oil's April contract moved up by Rs 14.60, or 0.92 percent to Rs 1594.70 per kilogram.

Rudra Investment Expert says that the price of Mentha Oil on MCX has slipped below the critical level of Rs. 1600 / - per kg. According to them, next month Mentha Oil will start coming in new crop circles. Looking at this, there are signs of heaviness on further prices. His mentha oil is advised to sell at a price of Rs 1600 in the April contract. Keeping a stop loss at a price of Rs 1622, investors should set a target of Rs 1565 per kg in two seasons.

According to Commodity Tips Expert, today prices of Mentha Oil are showing an upward trend due to the increase in purchasing from the lower level. But with the possibility of new crop coming in, the possibility of selling of stockists may again show pressure on prices. Investors are advised to sell on fast in today's business.

Mentha is the most used in confectionery products, along with medicines, beauty products, toothpaste. India is the largest producer and exporter of the world. The highest yield of mentha is in UP. UP's share in the production of total mentha oil in the country is about 80 percent. Districts of Western UP, Sambhal, Rampur, Chandausi Mentha are major producers, while Barabanki district near Lucknow is also the main producing area of Mentha Oil.