Nymex crude oil prices closed at $73.91/bbl yesterday.
2 September 2010 | Crude oil prices gained by 2.8% on the Nymex to close at $73.91/bbl. Oil prices hit an intra-day high of $74.48/bbl yesterday. On the MCX platform, crude oil prices gained 1.2%, after touching an intra-day high of Rs.3496/bbl.Crude oil prices will take cues from the movement in the DX today. The DX is expected to trade with the negative bias today and this factor will act as a supportive factor for the crude oil prices today. Moreover, revival in the equity markets will also support the commodity prices today.
Oil and natural gas daily review (September 01, 2010)
1 September 2010 | U.S. crude oil futures extended losses in postsettlement trading on Tuesday, ahead of weekly inventory reports that are forecast to show domestic crude stocks rose last week.U.S. crude inventories rose 4.8 million barrels in the week to Aug. 27, the API data showed, versus expectations for a 1.1 million barrel rise.Qatar, one of OPEC's smallest producers, has notified at least one Asian buyer that it will supply its Marine crude at full contracted volumes for October, unchanged from September levels, a trade source with knowledge of the matter said on Wednesday.
Nymex crude oil prices closed at $71.92/bbl on Tuesday.
1 September 2010 | Crude oil prices declined more than 3.5% on the Nymex on Tuesday to close at $71.92/bbl. Oil prices hit an intra high of $74.73/bbl yesterday. On the MCX platform, crude oil prices declined by 2.1%, touching an intra-day low of Rs.3421/bbl on Tuesday.
Oil and natural gas daily review (August 31, 2010)
31 August 2010 | U.S. crude oil futures ended lower on Monday, snapping a three-day winning streak, as energy markets took a cue from equities, which fell amid worries about the faltering economic recovery.U.S. oil demand in June was slightly less than previously estimated, but consumption was still at its highest level since October 2008, the Energy Information Administration said on Monday.U.S. crude oil imports in June topped 10 million barrels per day on a monthly basis for the first time since October 2008 thanks to strong petroleum demand, the federal Energy Information Administration said on Monday.
Nymex crude oil prices closed at $75.17/bbl on Friday.
30 August 2010 | Crude oil prices gained around 1.8% on the Nymex and more than 2.3% on the MCX last week. Oil prices hit an intra-day high of $75.59/bbl on Friday before closing at $75.17/bbl.Crude oil prices will take cues from the movement in the DX today. We expect DX to trade with the negative bias today and this factor will act as a supportive factor for the crude oil prices today. However, sharp gains in crude oil prices may not be witnessed as the latest GDP figures of the US indicate slowdown. This may raise concerns over demand for the commodity.
Nymex crude oil prices touched a seven-week low of $71.32/bbl
25 August 2010 | Crude oil prices continued to decline on Tuesday, with prices touching a seven-week low of $71.32/bbl on the Nymex. The commodity prices closed at $71.63/bbl towards the end of the trading session. On the MCX platform, crude oil prices lost around 1.5% to close at Rs 3386 (Sep contract).Crude oil prices will take cues from the inventory data to be released by US Energy department today.
Oil and natural gas daily review (August 20, 2010)
20 August 2010 | U.S. crude oil futures prices fell a second straight session on Thursday as weak U.S. economic data fueled concerns about demand in a tepid economic recovery. U.S. crude imports from Canada, the country's top oil supplier, fell to around 1.77 million barrels per day (bpd) last week, their lowest level in months, according to weekly import data from the Energy Information Administration.Bolivia's natural gas exports increased 7.5 percent to an average of 30.1 million cubic meters a day in the first half of 2010 from the same period last year, state-run energy company YPFB said on Thursday.
Nymex crude oil prices closed at $74.43/bbl on Thursday.
20 August 2010 | Crude oil prices declined more than 1.3% on the Nymex stage on Thursday to close at $74.43/bbl. Crude oil prices hit an intra-day high of $76.10/bbl yesterday. On the weekly basis, crude oil prices have declined about 1.4% on the Nymex and by 2% on MCX stage.Crude oil prices will take cues from the movement in the DX today. The DX is expected to remain to trade on the positive note today and this factor will exert pressure on the crude oil prices.
Oil and natural gas daily review (August 19, 2010)
19 August 2010 | Crude Oil prices fell yesterday, but a bounce by equity markets pulled crude futures well above lows and allowed traders to shrug off data showing combined U.S. crude and product stocks rose to the highest since weekly records began in 1990.U.S. commercial crude and product stocks rose last week to the highest level since the U.S. government began tracking weekly data, government data showed Wednesday, a sign fuel supply is outpacing demand amid a slow U.S. economic recovery.China's diesel exports in July almost doubled from a month earlier to 520,000 tonnes, a level also 22 percent above yearago levels, data showed on Thursday, as Chinese firms drew on stocks following peak refinery production in June.
Nymex crude oil prices declined to close at $75.42/bbl on
19 August 2010 | Crude oil prices declined around 0.4% on the Nymex to close at $75.42/bbl on Wednesday. Crude oil prices hit an intra-day high of $75.74/bbl yesterday. On the MCX platform, it declined around 0.8% yesterday on the back of appreciation in the Indian Rupee, further exerting pressure on the commodity prices on the Indian bourses.Crude oil prices will take cues from the movement in the US dollar index (DX). The weakness in the DX will help the commodity prices to gain.
Oil and natural gas daily review (August 18, 2010)
18 August 2010 | U.S. crude oil futures ended higher on Tuesday, rebounding after a five-day losing streak, as stronger equities helped ease some worries about the economy and a weaker dollar prompted more risk-taking in commodities.Ecuador's government will take at least 85 percent of revenue under a new round of oil contracts to be negotiated with private petroleum companies, Ecuador's minister for oil policy Wilson Pastor said on Tuesday.Enbridge Inc's struggles mounted on Tuesday as its U.S. affiliate said the oil spill that fouled a Michigan river system could cost as much as $400 million and regulators slapped it with a $2.4 million fine for a deadly 2007 explosion in Minnesota.
Nymex crude oil prices closed at $/bbl on Tuesday.
18 August 2010 | Crude oil prices gained around 0.7% on the Nymex stage on Tuesday to close at $75.77/bbl. Crude oil prices hit an intra-day high of $76.63/bbl yesterday. The commodity prices witnessed some relief yesterday after declining sharply since the last week.Crude oil prices will take cues from the inventory data scheduled to be released by the US Energy department today. Markets are expecting the crude oil inventories to decline by 1.1 million barrels
Nymex crude oil prices closed at $75.24/bbl on Monday
17 August 2010 | Crude oil prices continued to decline yet again after losing substantially in the last week. The commodity prices lost more than 6% on the Nymex in the last week. Crude oil prices closed at $75.24 on the Nymex yesterday, after touching an intra-day low of $74.86/bbl.
Oil and natural gas daily review (August 17, 2010)
17 August 2010 | US Crude oil futures ended lower for the fifth consecutive session on Monday as weak economic data from Japan and the United States fueled more worries about energy demand, erasing support from a weaker dollar.
Oil and natural gas daily review (August 16, 2010)
16 August 2010 | U.S. crude oil futures prices ended lower for a fourth day in a row on Friday and finished the week with the biggest percentage loss in six weeks, as fears grew that the slowing economic recovery would further erode oil demand.
Nymex crude oil prices lost more than 6% in the last week
16 August 2010 | Crude oil prices declined sharply in the last week, losing around 5% on the MCX. The commodity prices lost more than 6% on the Nymex. Poor economic data from China US and the Euro zone weighed on the energy prices.
Oil and natural gas daily review (August 13, 2010)
13 August 2010 | U.S. crude oil futures prices fell nearly 3 percent on Thursday as concerns about faltering economic growth, tepid oil demand and rising fuel stocks kept pressure on oil and equities prices. China has completed a crude storage farm of about 26 million barrels in Qinzhou in the southern Guangxi region, near a new refinery that Petro China <0857.HK> has just built, the official Economic Daily reported on Thursday.
Nymex crude oil prices closed at $75.74/bbl on Thursday
13 August 2010 | Crude oil prices continued to decline sharply to close at $75.74/bbl on Thursday. Crude oil prices have been suffering drastically in this week on weak global cues, leading to concerns that demand for the commodity may decrease. The commodity prices have lost more than 6% in this week after touching a high of $81.76/bbl on Monday.
Oil and natural gas daily review (August 12, 2010)
12 August 2010 | U.S. crude oil futures lost further ground in post-settlement trading on Wednesday as weather worries eased after news that a tropical depression over the Gulf of Mexico had dissipated.
Nymex crude oil prices closed at $78.02/bbl on Wednesday
12 August 2010 | Crude oil prices declined around 2.8% on the Nymex on Wednesday to close at $78.02/bbl. Oil prices touched an intra-day low of $77.25/bbl yesterday mainly on the back of strengthening in the DX coupled with poor market sentiments.
Oil and natural gas daily review (August 11, 2010)
11 August 2010 | U.S. crude oil futures ended with pared losses on Tuesday after the Federal Reserve announced it will maintain its policy of low interest rates for an extended period, in a bid seen to support the faltering economic recovery. China's crude oil output rose 6.4 percent from a year earlier to 17.22 million tonnes or 4.06 million barrels per day in July, data from the National Bureau of Statistics showed on Wednesday.
Nymex crude oil prices closed at $80.25/bbl on Tuesday.
11 August 2010 | Crude oil prices declined on the Nymex on Tuesday to close at $80.25/bbl. Crude oil prices touched an intra-day high of $81.62/bbl, mainly on the back of strengthening in the DX. The crude oil prices also witnessed downward pressure due to negative sentiments in financial markets. The US Federal Reserve kept interest rates at a record low between 0-0.25% and said that rates will remain low for an exceptionally long period.
Oil and natural gas daily review (August 10, 2010)
10 August 2010 | Crude Oil prices rose yesterday for the first time in four sessions, edging back above $81 a barrel on expectations that the U.S. Federal Reserve will keep borrowing rates low and may signal its readiness to print more money to support a faltering economic recovery. The collision of two cargo ships off Mumbai at the weekend shut India's busiest port on Monday, caused an oil slick and stalled the delivery of 1.5 million barrels of crude oil for one of the biggest refiners.
Crude oil prices closed at $81.48/bbl on Monday
10 August 2010 | Crude oil prices gained marginally on Monday to close at $81.48/bbl towards the end of the trading session. However, crude oil prices retreated fro its intra-day high of $81.76/bbl on the back of strength in the DX, making the dollar-denominated commodity look expensive for holders of other currencies.
Oil and natural gas daily review (August 09, 2010)
9 August 2010 | U.S. crude oil futures prices fell a third straight session on Friday as a disappointing U.S. July jobs report showed more losses than expected and weighed down equities markets and oil.
Nymex crude oil prices closed at $80.70/bbl on Friday
9 August 2010 | Crude oil prices declined on the Nymex on Friday to close at $80.70/bbl. Oil prices touched an intra-day high of $82.67/bbl, mainly on the back of weakness in the DX. However, crude oil prices took cues from the mixed sentiments in the financial markets on Friday. Crude oil gained around 2.2% on Nymex platform last week on the back of trend of weakness in DX.
Crude oil prices declined marginally to close at $82.47/bbl on the Nymex yesterday
5 August 2010 | Crude oil prices declined marginally to close at $82.47/bbl on the Nymex yesterday. Crude oil prices retreated after touching an intra-day high of $82.97/bbl mainly on the back of strengthening in the DX in the evening session. However, sharp downside in the crude oil prices were cushioned on the back of decreasing inventories in the US in the weekending July 30th. Crude oil prices touched a 12-week high of $82.97/bbl on Wednesday.
Oil and natural gas daily review (August 04, 2010)
4 August 2010 | U.S. crude oil futures rose 1.49 percent to settle at a three-month high above $82 a barrel on Tuesday, up a fourth straight session as the dollar weakened broadly and offset disappointing economic data.
Nymex crude oil prices closed at $82.55/bbl on Tuesday
4 August 2010 | Crude oil prices gained around 1.4% on the Nymex to close at $82.55/bbl on Tuesday. The weakness in the US dollar (DX) acted as a strong supportive factor for the commodity prices. The DX continued to decline on Tuesday to close at 80.61 against a basket of currencies. Constant poor economic data from the US is decreasing the appeal of the currency.
Nymex crude oil prices closed at $78.95/bbl on Friday
2 August 2010 | Crude oil prices gained on Friday as weakness in the DX acted as a strong supportive factor for the commodity prices. But on a weekly basis, crude oil prices declined marginally in the last week. Moreover, on the MCX platform, crude oil prices ended in the red on Friday due to sharp appreciation in the Indian rupee.
Nymex crude oil prices closed at $78.36/bbl on Thursday.
30 July 2010 | Crude oil prices gained more than 1.5% on the Nymex to close at $78.36/bbl yesterday. The weakness in the US dollar (DX) helped the crude oil prices. The DX declined sharply on Thursday to close at 81.62 against a basket of currencies.Crude oil prices may come under pressure today taking cues from the movement in the DX. The DX is expected to remain strong today, and this factor will exert pressure on the crude oil prices, making the dollar-denominated commodity less attractive for holders of other currencies.
Nymex crude oil prices closed at $76.99/bbl on Wednesday.
29 July 2010 | Crude oil prices touched a low of $75.9/bbl on the Nymex yesterday after the US Energy department reported a surge in inventories in the US, a top consumer of crude oil. However, crude oil prices managed to conquer some part of the lost territory mainly on the back of the softer US dollar index (DX). The DX closed at 82.13 on Wednesday, unchanged to its earlier close, after touching an intra-day high of 82.29 against a basket of currencies.
Nymex crude oil prices lost around 2% to close at $77.5/bbl on Tuesday.
28 July 2010 | Crude oil prices lost around 2% to close at $77.5/bbl on the Nymex yesterday. Increasing inventories in the US coupled with mild strength in the DX affected the crude oil prices yesterday. On the MCX platform, crude oil prices closed at Rs 3624/bbl.Crude oil prices will take cues from the inventory data to be released by the US Energy department today. Increasing inventories would further exert pressure on the commodity prices
Oil and natural gas daily review (July 28, 2010)
28 July 2010 | U.S. crude oil futures extended losses on Tuesday, dropping more than $2 and falling below $77 a barrel as a report showing consumer confidence fell in July weighed on oil and equities markets.
Oil and natural gas daily review (July 28, 2010)
28 July 2010 | Crude oil futures fell a second straight day yesterday, slipping on government oil inventory data showing a large crude oil stocks build last week as imports surged. U.S. crude oil inventories unexpectedly rose sharply last week as imports jumped, inventories rose by 7.31 million barrels to 360.76 million barrels in the week to July 23 as imports surged by 1.18 million barrels per day to 11.12 million bpd.
Oil and natural gas daily review (July 27, 2010)
27 July 2010 | U.S. crude oil futures settled unchanged on Monday, remaining parked just under $79 a barrel as strong U.S. new home sales data boosted equities and oil, even as returning production after a fizzled tropical storm kept oil prices in check.An oil pipeline break in Michigan on Monday shut part of a system carrying Canadian crude oil to the U.S. Midwest and southern Canada, Enbridge Energy Partners said.Only three cargoes of gasoline have reached Iran so far in July, according to a shipping document seen by Reuters, much less than the seasonal norm, as new sanctions divert ships carrying fuel.
Nymex crude oil prices remain unchanged at $78.98/bbl on Monday
27 July 2010 | Crude oil prices remained unchanged to its previous close of $78.98/bbl on the Nymex yesterday. On the MCX platform, crude oil prices ended in the red to close at Rs 3707/bbl.Crude oil prices will take cues from the inventory data to be released by the API today. However, the DX is expected to remain weak today and this factor will provide support to the crude oil prices. A weaker DX makes the dollar-denominated crude oil prices look attractive for holders of other currencies.
Oil and natural gas daily review (July 26, 2010)
26 July 2010 | U.S. crude oil futures ended lower after the release of European bank stress test results but well above the day's lows on Friday, as Wall Street strengthened on positive earnings results and with oil traders cautiously weighing the potential impact of production shut-ins in the Gulf of Mexico ahead of Tropical Storm Bonnie. Venezuelan President Hugo Chavez threatened on Sunday to cut oil supplies to the United States in case of a military attack from Colombia as a dispute escalated over charges his country harbors Colombian rebels.
Nymex crude oil prices gained around 3.5% in the last week.
26 July 2010 | Crude oil prices touched a three week high of $79.6/bbl on Friday, but closed at $78.98/bbl towards the end of the trading session. Weakness in the DX coupled with positive sentiments in the financial markets helped the commodity prices to gain. Crude oil prices gained around 3.5% in the last week. Crude oil prices are expected to trade with a positive bias today taking cues from the movement in the DX. Risk appetite in the financial markets will lead to lower demand for the DX today. Weakness in the DX will make the crude oil prices attractive for holders of other currencies.
Oil and natural gas daily review (July 23, 2010)
23 July 2010 | U.S. crude oil futures surged more than 3 percent to an 11-week high above $79 a barrel, lifted by better-than-expected economic data that also boosted equities markets and on concerns about a tropical depression that might threaten Gulf of Mexico production. Angolan crude oil cargoes sold at stronger discounts to dated Brent in the first batch of reported deals since the preliminary September loading programme released at the end of last week.
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World stock markets daily report (September 02, 2010)
A hump day rally sparked by strong Chinese PMI and Aussie GDP data was followed up by much better than expected US ISM and the sentiment was for sure “RISK-ON” this was also helped by WSJ article about further stimulus from Obama administration and rumours of massive $6bn asset reallocation trade out of German bunds (the bond bubble) into S&P 500 futures as it was the start of a new quarter.
Indian stock market daily closing report (September 02, 2010)
The markets traded within a tight range after the positive momentum witnessed for two days and ended with modest gains. All the major sectoral indices ended on a very flat note. Sugar counters witnessed a significant spike on decontrol reports. The Sensex closed at 18,238 up 34 points and the Nifty was at 5,486 up 14 points after making an intra-day high of 5,513. The Mid cap and Small cap indices were up by 0.78% and 1.11% respectively. The breadth of the market was positive and the total turnover recorded at Rs.1,02,680 Cr. The Sept future ended with 3 points discount
World stock markets news summary (US, UK, Europe, Asia) (September 02, 2010)
Nationwide House Prices SA (Aug) M/M -0.9% vs. Exp. -0.3% (Prev. -0.5%); NSA (Aug) Y/Y 3.9% vs. Exp. 4.9% (Prev. 6.6%) (RTRS) UK house prices fell the most in six months in August as increased supply of property gave buyers more bargaining power, according to Nationwide Building Society.Britain’s deficit is constraining public finances, says IMF report. (Independent) Britain’s public finances remain “constrained” and among the most precarious of the major advanced economies, the International Monetary Fund (IMF) warned yesterday. Ranking nations by their “fiscal space” – the insulation that they have against further unforeseen shocks to their economic systems – the IMF said the UK was only one notch above those countries most commonly thought of as being bust.
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Godrej Properties IPO review and analysis by Angel Broking, 9 December 2009
Godrej Properties Limited (GPL) intends to develop its projects through joint development agreements with land owners. Under this asset-light model, GPL will enter into revenue, profit or area-sharing agreements with land owners, instead of an outright purchase of the land. This model avoids direct land dealings for GPL and the locking-up of extensive capital in land. Around 80% of GPL's existing land bank will be executed through joint developments with partners. The Godrej brand name has been associated with quality and strong corporate governance. Both of its existing listed entities, Godrej Consumer Products and Godrej Industries have given CAGR Returns of 48% and 77%, respectively, to investors since 2001. We believe that GPL could leverage its parentage brand (with respect to access to the land at Vikhroli and a strong customer preference towards it), assuring a timely delivery of execution. More than 50% of GPL's existing land bank is exposed towards township projects and in one location (Ahmedabad), which will be executed over the next ten years. Any delay in this execution or a fall in property prices in Ahmedabad will impact our NAV estimates, as 50% of our NAV is derived from this project.
JSW Energy Ltd IPO review and analysis by Nirmal Bang, 8 December 2009
JSW Energy Ltd. (JSWEL) is a power project development company, which is developing, and will operate and maintain, power projects in India. The company has two thermal power projects under operation, with a combined installed capacity of 860 MW. JSWEL is a part of the JSW Group, a leading business group in India. JSW Group has a presence in high growth sector like Steel, Energy, Aluminium, Cement, Infrastructure and Logistics. Post IPO holding of Promoter and Promoter Group would be 78.12%
JSW Energy IPO review and analysis by Angel Broking, 7 December 2009
JSW Energy (JSWEL) currently has operational capacity of 995MW and is in the process of executing projects with capacity of 2,655MW. In addition, the company has 7,740MW power generation projects at an early stage of development. A major portion (2,145MW) of JSWEL’s upcoming capacities is expected to be operational by FY2011E thereby providing near-term visibility. Out of the plants under construction, the company expects to commission 570MW by end FY2010E, while another 1,575MW is expected to get operational in FY2011E. Thus, a robust portfolio and near-term Revenue visibility is a major positive for the company.
Surgutneftegas: Currency rates are putting away the dividends..., 26 November 2009
We have revised our model of Surgutneftegas. The reason for that was the output of the 3Q 2009 report, correction of our suppositions of the company’s future development, and also the postponing of the target time and evaluation one year forward. Particularly, in our model of Surgutneftegas we have corrected the former forecast of income for the current year towards reduction: on EBIT – by 2.2%, on the net profit – by 21.5%. Mainly that happened due to the corrections on the operating estimates, and also due to the continuing strengthening of Russian ruble, which, considering significant dollar liquidity of the company, turns into negative currency exchange. Due to the negative currency exchange precisely For the second quarter in a row Surgutneftegas shows low level of the net profit. The fourth quarter, as we see it, will not make an exception and we expect negative currency exchange similar to the ones in the third quarter.
Gazprom: Having passed the bottom, 23 November 2009
We have revised our estimation of Gazprom’s shares. The reason for up-dating the company’s model was the report by IAS for 1H 2009, the budget draft for the next year and corrections of WACC method calculation. The provided financial report of the gas monopoly totally brought no surprises. As it has been expected, the second quarter was worse than the first one and likely was the weakest within the whole year. In 1H 2009 the financial estimates were affected by the decline of the gas sale at all markets by 22.3% average, and by the reduction of the retail price of gas by 9.6% in the state of the far abroad and by 24% in Russia. As a result within the six months of the year 2009 sales slipped by 24.1 bn USD or by 32.8% and formed 49.285 bn USD, operating profit and EBITDA showed reduction by 56.7% and 52.6% respectively and formed 12.98 bn USD and 16.18 bn USD.
Cox and Kings IPO review, analysis and recommendation, 18 November 2009
Cox and Kings proposes to make its IPO in the price band of Rs316-330/share, at a face value of Rs10 each, and to issue 1.85cr shares, of which 30.5lakh shares are offered for sale by Lehman Brothers Opportunity, Deutsche Securities Mauritius and Merrill Lynch Capital Markets Espana. Therefore, the fresh issue by the company will be to the extent of 1.55cr shares. The company plans to use the proceeds for debt repayment (Rs129.6cr), acquisitions and other strategic initiatives (Rs150cr), investment in overseas subsidiaries (Rs62.5cr), and investment in corporate offices and upgrading its existing operations (Rs60cr).
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On Track Innovations, Ltd (OTI) to Present at Rodman & Renshaw Annual Global Investment Conference, 3 September 2010
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