India imported about 7% more oil in April compared with the same month last year, according to preliminary tanker arrival data obtained from shipping and industry sources. India shipped in about 4.83 million barrels per day (bpd) oil in April, about 12 percent more than the previous month. Iraq continued to be the top oil supplier to India followed by Saudi Arabia. Nigeria knocked down Venezuela to the fourth position in April compared to March and emerged as the third-biggest oil supplier to India. Mexico was the fifth-largest source, a position held by the United Arab Emirates in March. Rising volumes of the United States, accounting for 6% of India’s overall purchases, turned the country into the sixth – biggest source of oil, the data showed. Iran slipped to the seventh position in April from fourth in March, as tough US sanctions against Tehran curtailed purchases by Indian refiners. In April, India imported about 277,600 bpd of Iranian oil compared with 640,000 bpd a year ago.
This week commodity market Gold and Silver with profits while Crude Oil futures contract closed with losses as follows:
GOLD 10 g” (99.9 Pure)
- Last week in the commodity market Gold June 2019 futures contract closed at ₹ 31,530 with an aggregate loss of ₹261 only.
- This week Gold June futures contract opens at ₹ 31,555 on Monday.
- Gold Highest gain ₹289 on Friday.
- Gold highest loss ₹73 on Tuesday.
- Week last day i.e. Friday Gold closed at ₹ 32,098 with the aggregate gain of ₹568 only.
SILVER (1 KG)
- In the commodity market last week Silver July 2019 futures contract closed at ₹36,384 with an aggregate loss of ₹193.
- This week Silver July futures contract opens at ₹ 36,468 on Monday.
- Silver highest gain ₹372 on Wednesday.
- Silver highest loss ₹535 on Tuesday.
- Week last day i.e. Friday Silver closed at ₹ 36,449 with the aggregate gain of ₹65 only.
CRUDE OIL (1 BBL)
- Crude oil June 2019 futures contract closed at ₹4,071 with an aggregate loss of ₹374 only.
- This week Crude futures June contract opens at ₹ 4,092 on Monday.
- Crude Oil highest gain ₹61 on Monday.
- Crude Oil highest loss ₹214 on Friday.
- Week last day i.e. Friday Crude Oil closed at ₹3,775 with an aggregate loss of ₹296 only.
