tight supply outlook
| March 19, 2024, 5:16 a.m.
Crude Oil Futures Trade Lower Despite Tight Supply Outlook
Crude oil futures traded lower on Tuesday morning, despite a tight supply outlook from major oil producers such as Iraq, Saudi Arabia, and Russia. May Brent oil futures and May crude oil futures on WTI (West Texas Intermediate) both experienced slight declines. Russia is expected to increase its oil exports in March, according to a Reuters report. The recent drone attacks on Russian refineries by Ukraine have impacted fuel production in Russia, potentially leading to increased crude oil exports. Meanwhile, Iraq announced plans to cut crude oil production, and Saudi Arabia saw a decline in crude oil exports in January. Market sentiment is also influenced by the upcoming conclusion of the US Federal Reserve meeting, with expectations of unchanged interest rates. Additionally, other commodities such as natural gas, castorseed, and kapas futures showed mixed trading patterns on commodity exchanges.
Read More.Stories
Highlights of India Budget 2024: Finance Minister announces 2 crore more houses under Pradhan Mantri Awas Yojana – Gramin (PMAY-G) . No changes to income tax slabs.
Budget 2024 Key Highlights: Fiscal deficit target for 2024-25 at 5.1% of GDP; no changes to income tax slabs
No Major Tax Changes in Interim Budget, Focus on Growth
Fiscal Deficit Target Lowered to 5.8% in Interim Budget
Infrastructure, Digital Push to Drive Growth in Interim Budget
Education Sector Seeks Higher Allocation, NEP Implementation in Budget
Sitharaman Presents Interim Budget, Focuses on Fiscal Consolidation and Growth
Sitharaman's Last Budget Before 2024 Elections Focuses on Rural India
Latest News
