Commodities

Crude oil, natural gas gain on MCX

Our Bureau | | Updated on: Dec 07, 2021
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Guar gum, and guar seed also gain on NCDEX

The crude oil and natural gas futures were up by 2.79 per cent and 2.48 per cent, respectively, on the Multi Commodity Exchange (MCX) on Tuesday afternoon.

December crude oil futures were trading at ₹5,344 on Tuesday afternoon as against the previous close of ₹5,199.

February Brent oil futures were trading at $74.27, up by 1.63 per cent; and the January crude oil futures on WTI were trading at $70.80, up by 1.89 per cent.

There is a feeling among some global health experts that the omicron variant of corona virus may not make much impact on society. This has helped ease concerns about the demand for fuel, helping the global crude oil prices to go up.

The December natural gas futures were trading at ₹285.50 on MCX on Tuesday afternoon against the previous close of ₹278.60, though it had gone down by almost 10 per cent on Monday. The downtrend on Monday was in tune with the global trend where the concerns about the demand for natural gas during winter eased as there was a mild weather forecast.

The January futures of natural gas were trading $3.780 on NYMEX up by 3.36 per cent.

On MCX, the December futures of copper were trading at ₹733.10 on Tuesday afternoon as against the previous close of ₹734.10, down by 0.14 per cent.

NCDEX

On the National Commodities and Derivatives Exchange (NCDEX), the December guar gum and guar seed futures were up by 2.99 per cent and 1.84 per cent, respectively, on Tuesday afternoon. The December futures of guar gum were trading at ₹10,067 on NCDEX as against the previous close of ₹9,775; and the December futures of guar seed were trading at ₹5,700 against the previous close of ₹5597.

The December futures of soyabean were down by 1.90 per cent on NCDEX in the Tuesday afternoon trading. The December soyabean futures were trading at ₹6,495 on NCDEX against the previous close of ₹6621.

Published on December 07, 2021

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