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Crude oil is getting faster and its price has risen 1 percent in the domestic market. In fact, international trading is going down 1.5 to 1.5 per cent. Although the base metal has dropped sharply and the metal has broken down in the lead of Nickel.
The US Energy Department has cut crude oil production estimates in the US. EIA has said that due to the Harvey storm, it is possible to produce 92.5 million barrels of average daily this year, whereas last month the agency had estimated the production of 93.5 million barrels. Meanwhile, Venezuela's President has emphasized on OPEC to cut crude production even after March next year and expressed hope of consensus on this proposal. In the domestic market, crude palm oil surged by 1.33 per cent to Rs 548.20.
On MCX, gold is trading 0.31 per cent higher at Rs 30036, while silver is rising by 0.37 per cent to Rs 41,369. Meanwhile, the food commodities have increased in food commodities. Soya and palm oil climbed up to 1 percent. Trading on soybean and mustard is also on the strong edge. There is a one-way fast progress in Chana today. At the same time, guar prices jumped nearly 1.5 percent.
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