Commodities

Crude oil, natural gas dip as market tries to find balance

BL Mangaluru Bureau | Updated on: Dec 24, 2021

January crude oil futures were trading at ₹5,523

Crude oil and natural gas futures witnessed a marginal decline during the initial hour of Friday morning as the global market tried to find a balance after running up sharply on Thursday.

On the Multi Commodity Exchange (MCX), January crude oil futures were trading at ₹5523 on Friday morning against the previous close of ₹5536, down by 0.23 per cent.

January natural gas futures were trading at ₹275 on MCX in the initial hour of Friday morning as against the previous close of ₹275.70, down by 0.25 per cent.

On Thursday, March Brent oil futures closed at $76.52, down by 0.10 per cent; and February crude oil futures on WTI at $73.72, up by 1.32 per cent. Reports attributed this trend in the global markets to the thinning liquidity before the holiday period,

On MCX, December crude palm oil futures were trading at ₹1073 in the initial hour of Friday morning as against the previous close of ₹1069.60, up by 0.32 per cent.

NCDEX

On the National Commodities and Derivatives Exchange (NCDEX), January steel long futures were trading at ₹44,010 on Friday morning against the previous close of ₹43500, up by 1.17 per cent.

January guar gum futures were trading at ₹11,250 on NCDEX in the initial hour of Friday morning against the previous close of ₹11,268, down by 0.16 per cent.

Published on December 24, 2021
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