At the MCX, Crude oil futures for Oct contract was trading at Rs. 2924.00 per barrel, down by 1.62%, after opening at Rs.2935.00 per barrel, against a previous close of Rs. 2972.00 per barrel. It touched an intra-day low of Rs. 2910.00 per barrel and high of Rs.2965.00 per barrel in the future market.
Crude Oil prices fell on Wednesday after US President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy and on a larger-than-expected increase in US crude inventories.
Natural gas futures were trading lower at Rs 185.70 per mmBtu on Wednesday as participants increased their short positions as seen by the open interest.
Gold traded lower on Wednesday tracking a muted trend in the international spot prices that were near a one-week low after the US President Donald Trump halted stimulus talks, boosting the dollar.
Silver Prices plunged on Wednesday as participants increased their short positions as seen by the open interest.
On Multi Commodity Exchange, Commodities like Nickel ,CPO, Mentha Oil, Lead, Aluminium, Zinc, Cotton futures were the gainers, gained by 0.59%,0.51%,0.39%, 0.34%, 0.28%, 0.11%, 0.05% respectively. While Commodities like Crude Oil, Natural Gas ,Silver, MCX Bulldex, Gold, Gold Petal, Gold M, Gold Guinea, Copper futures were the losers with a loss of 1.62%, 1.28%, 1.08%, 0.95%, 0.89%, 0.86%, 0.85%,0.70%, 0.11% respectively.