Commodity News

Brent crude fell toward $73 on Thursday as tankers exited the Strait of Hormuz following the US-Iran accord, with the energy secretary confirming flows were close to pre-war levels.

Reserve Bank of India Monetary Policy Committee member Nagesh Kumar said India's growth could return to 7% plus in FY27 if West Asia peace holds and crude oil prices continue declining from current levels.

MCX gold futures dropped ₹1,600 per 10 grams and silver fell 2.5% at the opening of trade on Thursday after the US Federal Reserve signalled that nine of its 19 members support a rate hike before year-end. Softer crude oil prices following the US-Iran ceasefire deal offered limited support to domestic bullion price.

Gold and silver prices rose on COMEX in early trade before the US Federal Reserve's policy decision. Persistent geopolitical uncertainty, central bank buying, and expectations of lower real interest rates continued to support bullion demand.

Essar Energy Transition Fuels and IRH Global Trading signed a $500 million crude sourcing and product supply facility on 16 June to strengthen Stanlow refinery feedstock security and working capital efficiency.

India's gold imports climbed 34% to USD 3.41 billion in May. This, despite higher duties, while silver imports plunged 86.65%. Read more here.

The government raised the export duty on diesel to ₹14 per litre and ATF to ₹12.5 per litre in its latest bi-weekly review, while keeping the duty on petrol unchanged at ₹1.5 per litre. The hikes take effect from 16 June. Read ahead to know more.

Global crude oil prices fell more than 5% after the US and Iran agreed to end hostilities, easing Strait of Hormuz supply concerns and boosting hopes of stable energy flows worldwide.

Crude oil prices fell to a two-month low on Friday after US President Donald Trump cancelled planned strikes on Iran and signalled that a deal with Tehran had been approved and would be signed shortly. Brent dropped to $89.17 a barrel while WTI fell to $86.48. Read ahead to know more.

Gold rose 2.52% and silver jumped 4.80% on Friday after Trump signalled an Iran deal memorandum of understanding is in final shape, reversing five sessions of losses driven by rate hike fears.

India's latest urea import tender has received bids at around $444 to $449 per tonne, more than 50% lower than the $959 per tonne paid in April, as China eased export restrictions and global prices softened ahead of the kharif season. The development could help contain India's rising fertiliser subsidy bill. Read ahead to know more.

India's fertiliser ministry has reportedly sought a higher subsidy allocation as rising global energy and fertiliser prices increase import costs. The government is also looking to expand domestic production while balancing inflation and fiscal pressures.

India's fuel consumption rose to 19.93 million metric tonnes in May from 19.47 million tonnes in April, supported by higher diesel and petrol demand. However, LPG consumption dropped about 20% year-on-year to 2.13 million tonnes as supply disruptions linked to the Strait of Hormuz continued to affect availability.

The NSE Electronic Gold Receipt platform will be fully operational within ten days, targeting mobilisation of India's estimated 50,000 tonne idle gold stock to reduce import dependence and create new financial returns.

OPEC+ approved a fourth consecutive quota increase of 188,000 barrels per day from July but actual production remains far below targets as the Strait of Hormuz closure persists.

Gold prices fell further on Monday as a strong US jobs report stoked fears of a Federal Reserve rate hike, while fresh Israeli strikes on Iran pushed oil prices higher and added to inflation concerns. Spot gold dropped 0.4% to $4,313.11 per ounce. Read ahead to know more.

Russia's share in India's oil imports rose to 38% in April 2026. But the premium paid on Russian crude has jumped 425%.

Domestic LPG cylinder prices rose by ₹29 from 7 June, while IOC, BPCL and HPCL stocks remain in focus.

Indian government bond yields rose ahead of the RBI policy meeting as oil prices climbed above $94 per barrel amid US-Iran tension.

MCX has launched Silver 100 futures contracts with a 100-gram trading unit, expanding access to silver derivatives for retail investors and jewellers through smaller lot sizes and compulsory physical delivery.

Commercial liquefied petroleum gas prices rose for the fourth time since the West Asia war began on 01 June, with the Delhi 19-kg cylinder now at ₹3,113.50 after a ₹42 hike. Read ahead to know more.

Gold price remains under pressure on Thursday as Iran war concerns kept inflation fears elevated and Federal Reserve rate hike expectations limited the metal's safe-haven appeal. Read ahead to know more.

India plans four critical mineral processing plants with ₹500 crore support, putting mining, EV battery and rare earth-linked stocks in focus.

India plans to boost coal gasification to cut imports worth ₹3 lakh crore, attract investment and strengthen domestic manufacturing.

NSE and the Steel Users Federation of India have partnered to develop steel derivatives and strengthen risk management across India’s steel industry.

India’s fuel retailers are losing ₹7–8 per litre as crude nears $98, with relief unlikely unless Brent drops below $87.

Brent crude fell below $100 on 25 May as US-Iran peace talks showed progress toward a memorandum of understanding. Key disputes over the Strait of Hormuz remain unresolved.