30 amid growing concerns about U.S.-China trade tensions and a string of bullish news, with the price of West Texas Intermediate (WTI) for October delivery up 1.72 percent and Brent crude oil
for October delivery up 1.84 percent.
The price of a barrel of Brent crude oil
fell by 3.92% to 56.28 US dollars.
Brent crude oil
futures rose 72 cents, or 1.02 percent, to settle at $71.55 a barrel.
The 2019 Budget was calculated based on a benchmark Brent crude oil
of US$70 per barrel.
Singapore: Benchmark Brent crude oil
futures rose to as much as $83.32 a barrel on and were at $83.09 at 0335 GMT, still 36 cents, or 0.4 percent above their last close.
Major business was contributed by WTI crude oil amounting to Rs 1.927 billion, followed by currencies through COTS Rs 1.214 million, gold Rs 543.820 million, NSDQ100 Rs 509.899 million, platinum Rs 164.978 million, copper Rs 145.488 million, silver Rs 143.289 million, DJ Rs 141.423 million, SP500 Rs 53.418 million, Brent crude oil
Rs 34.306 million and natural gas Rs 28.758 million.
Brent crude oil
down 85 cents to reach USD 77.39 pb, the same case with the American crude, which went down by USD 1.2 reaching USD 72.94 pb.
The major business was contributed by WTI crude oil amounting to Rs 2.010 billion, followed by currencies through COTS, gold Rs 1.676 billion, gold Rs 1.353 billion, silver Rs 430.490 million, SP500 Rs 361.450 million, platinum Rs 344.644 million, NSDQ100 Rs 341.857 million, DJ Rs 62.004 million, copper Rs 48.072 million, natural gas Rs 24.134 million and Brent crude oil
Rs 19.368 million.
Bank of America Merrill Lynch (BofAML) has completed its Global Energy Paper by their Global Commodity Research team, and a key message is that the bank has decided to maintain its estimates from last year, with Brent crude oil
prices averaging $50 to $70/bbl in a medium-term horizon to 2023.
Major business was contributed by gold amounting to Rs 2.447 billion, followed by currencies through COTS Rs 2.117 billion, WTI crude oil Rs 651.849 million, DJ Rs 540.362 million, silver Rs 391.249 million, NSDQ100 Rs 244.279 million, platinum Rs 201.844 million, natural gas Rs 93.911 million, copper Rs 62.389 million, SP500 Rs 35.785 million and Brent crude oil
Rs 21.375 million.
The price of Brent crude oil
last Wednesday fell from the highest levels, a level not seen since the market decline in 2014./ End
"We now see a deficit of 430,000 bpd in 2018 compared to 100,000 bpd prior, and thus see Brent crude oil
prices averaging $64 a barrel in 2018 compared to $56 prior.