CRUDE OIL PRICES ROSE ON FIRM SPOT DEMAND

At the MCX, Crude Oil futures for Nov contract was trading at Rs. 3102.00 Per Barrel, up by 1.74%, after opening at Rs.3072.00 Per Barrel, against a previous close of Rs. 3049.00 Per Barrel. It touched an intra-day low of Rs. 3064.00 Per Barrel and high of Rs.3117.00 Per Barrel in the future market.

Crude Oil prices edged higher on Wednesday as hopes that OPEC and its allies will delay a planned rise in oil output offset demand fears stoked by a bigger-than-expected build in U.S. crude stocks and weaker U.S. retail sales.

Aluminium prices on Wednesday edged up by 0.31 per cent to Rs 162.80 per kg in futures trade as speculators built up fresh positions amid positive trend in spot market.

Gold prices edged lower on Wednesday due to optimism over a potential COVID-19 vaccine, but concerns over the economic impact from the resurgence of coronavirus cases in the United States limited their decline.

Silver futures on Wednesday dropped 0.23% to Rs 63105.00 per kg as participants reduced their bets on low demand.

On Multi Commodity Exchange, Commodities like Natural Gas, Crude Oil, Zinc, MCX Metldex, Copper, Aluminium, CPO, Lead futures were the gainers, gained by 3.20%, 1.74%, 1.62%, 1.20%, 0.56%, 0.31%, 0.27%, 0.26% respectively. While Commodities like Nickel, Mentha Oil, Gold, GoldM, Gold Petal, MCX Bulldex, Gold Guinea, Silver, Cotton futures were the losers with a loss of 0.52%, 0.46%, 0.44%, 0.42%, 0.41%, 0.40%, 0.36%, 0.23%, 0.20% respectively.