In the month of May, India’s crude oil production fell up to 7 per cent to 2,800 TMT due to less production from fields operated by ONGC and other private operators. The fall in domestic crude oil production pushed the country’s crude oil import dependence to 85 per cent in the month as compared to 83.80 per cent recorded in the corresponding month a year ago. Cumulatively, domestic crude oil production decreased by 7 per cent to 5,519 TMT during the first two months i.e. April and May of the current financial year (2019-2020), as compared to the same period in the last year.
This week commodity market Gold, Silver and Crude Oil futures contracts closed with gains as follows:
GOLD 10 g” (99.9 Pure)
- In the commodity market last week Gold Aug 2019 futures contract closed at ₹34,583 with an aggregate gain of ₹377 only.
- In the current week Gold Aug futures contract opens at ₹34,550 on Monday.
- Gold Highest gain ₹257 on Wednesday.
- Gold Highest loss ₹ 138 on Thursday.
- Week last day i.e. Friday Gold closed at ₹34,905 with the aggregate gain of ₹322 only.
SILVER (1 KG)
- Last week in the commodity market, Silver July 2019 futures contract closed at ₹37,316 with an aggregate loss of ₹241 and full contract also closed on the same day itself and September futures contract will be continued and last week Silver September futures contract closed at ₹37,915 on Friday.
- In the current week Silver September futures contract opens at ₹37,951 on Monday.
- Silver highest gain ₹277 on Friday.
- Silver highest loss ₹207 on Thursday.
- Week last day i.e. Friday Silver closed at ₹38,390 with an aggregate gain of ₹475 only.
CRUDE OIL (1 BBL)
- In the commodity market last week Crude oil July 2019 futures contract closed at ₹3,933 with an aggregate loss of ₹162 only.
- In the current week Crude Oil futures July contract opens at ₹3,946 on Monday.
- Crude Oil highest gain ₹149 on Wednesday.
- Crude Oil Highest loss ₹11 on Tuesday.
- Week last day i.e. Friday Crude Oil closed at ₹4,138 with an aggregate gain of ₹205 only.
