India’s petrol and diesel sales growth moderated in April while cooking gas LPG consumption fell as record high prices dented demand, preliminary industry data showed. Petrol sales growth moderated to 2.1 per cent in April when compared with the same period in the preceding month, while diesel demand was almost flat. Cooking gas LPG, which had consistently […]
A potent combination of sweltering summer and acute coal shortages have triggered blackouts across many parts of the country as states struggle to manage record demand for electricity and low feedstock at power plants. From Jammu and Kashmir to Andhra Pradesh, consumers are facing power cuts ranging from 2 hours to 8 hours. Factories are […]
Jewellery demand in India fell by 26% y-o-y in Q1 to 94t after reaching a record high in the last quarter of 2021, the World Gold Council (WGC) said. The lack of auspicious gold-buying days and wedding days in January was followed by a sharp rise in the gold price in late February/early March – […]
In a quarter that saw the US dollar gold price rise by 8%, gold demand (excluding OTC) increased 34% y-o-y to 1,234t – the highest since Q4 2018 and 19% above the five-year average of 1,039t, the World Gold Council (WGC) said. The Ukraine invasion and surging inflation were key factors driving both the gold […]
The world’s demand for natural gas is set to decline slightly in 2022 as a result of higher prices and market disruptions caused by Russia’s invasion of Ukraine, according to the International Energy Agency’s latest quarterly update. The expected small contraction in global gas demand compares with the IEA’s earlier forecast of 1% growth in the […]
Escalating economic concerns in Sri Lanka, a major player in the global tea market, may provide opportunities for Indian exporters of Indian orthodox tea, as the island country is set to witness a significant decline in its production and shipments this year, according to rating agency ICRA’s research paper. According to ICRA, Russia has been […]
India’s domestic demand for natural gas is seen rising 12-14% next fiscal, despite prices remaining high for the past several months because of economic recovery and lower-than-usual inventories in key European consumption centres, ratings agency CRISIL said in a recent note. Russia’s invasion of Ukraine, which began in February 2022, drove already-elevated gas prices even […]
Nickel prices climbed to their highest in more than a decade last week as low inventories, healthy demand from manufacturers of electric vehicle batteries and worries about supplies from Russia spurred buying. Benchmark nickel on the London Metal Exchange was up 1.5% at $24,515 a tonne, having earlier hit $24,610 a tonne, the highest since […]
The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing the risks of longer-term pain. The Newcastle index, as assessed by commodity price reporting agency Argus, climbed to $258.59 a tonne in the week, up from $ 246.34 per tonne the prior […]
The energy counter has made a strong comeback in 2021 sustaining a robust crude oil price rally in 2021. From the very beginning of the year, there has been an unrelenting up move with little pauses in between, where prices hit their highest levels since 2014. Also, OPEC and allies continued with their record production […]
