The January crude oil futures were trading at ₹5,492 on the Multi Commodity Exchange (MCX) on Thursday afternoon against the previous close of ₹5,468, up by 0.64 per cent. This followed the favourable conditions such as the drop in the US crude oil reserves and data showing signs of economic growth globally.

However, the March Brent oil futures were trading at $75.15, down by 0.17 per cent; and the February crude oil futures on WTI were trading at $72.68, down by 0.11 per cent.

The data provided by the American Petroleum Institute showed the fall in the US crude oil inventory last week. This fall was more than the market expectations. This helped boost the prices. In addition to this, some European nations were forced to use the oil to meet their requirement as Russia reduced the flow of natural gas to them.

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On MCX, the January natural gas futures were trading at ₹287.90 on Thursday afternoon as against the previous close of ₹294.20, down by 2.14 per cent.

NCDEX

On the National Commodities and Derivatives Exchange (NCDEX), the January soyabean futures were trading at ₹6095 on Thursday afternoon as against the previous close of ₹5,951, up by 2.42 per cent.

The January guar gum contracts were trading ₹11,100 on NCDEX on Thursday afternoon against the previous close of ₹10,974, up by 1.15 per cent.

On NCDEX, the January gur futures were trading at ₹1,145.5 on Thursday afternoon against the previous close of ₹1,162.5, down by 1.46 per cent; and the January dhaniya contracts were trading at ₹8,600 on Thursday afternoon against the previous close of ₹8,644, down by 0.51 per cent.

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