Understanding Why Oil Prices Fluctuate

Commodities MCX

This week commodity market Gold, Silver and Crude Oil futures contracts closed with losses as follows

GOLD 10 g” (99.9 Pure)

In the commodity market last week Gold December futures contract closed at ₹31,937 with an aggregate gain of ₹35
In current week Gold futures contract opens at ₹31,903 on Monday i.e., 29th Oct. 2018
Gold highest gain ₹144 on 01st Nov. 2018
Gold highest loss ₹142 on 02nd Nov. 2018
Week last day i.e. Friday Gold closed at ₹31,750 with the aggregate loss of ₹142

SILVER (1 KG)

In the commodity market last week Silver December futures contract closed at ₹38,712 with the loss of ₹84
In current week Silver future contract opens at ₹38,819 on Monday i.e. 29th Oct. 2018
Silver highest gain ₹721 on 01st Nov. 2018
Silver highest loss ₹427 on 29th Oct. 2018
Week last day i.e. Friday Silver closed at ₹38,620 with the aggregate loss of ₹92

CRUDE OIL (1 BBL)

When it comes to oil prices fluctuations, supply and demand is the main factor that drives oil prices up or down. Other factors such as OPEC stance, wars, embargos, weather, technology, geopolitics, natural disasters, renewables, changes in national/international legislations and policies are sub-factors that impact supply and demand which directly impact oil price and leads to its fluctuations.

In the commodity market last week Crude Oil November futures contract ended at ₹4,951 with the aggregate loss of ₹125
In current week Crude Oil futures November contract opens at ₹4,963 on Monday i.e. 29th Oct. 2018
Crude oil highest gain ₹5 on 29th Oct. 2018
Crude oil highest loss ₹230 on 01st Nov. 2018
Week last day i.e. Friday Crude Oil closed at ₹4,609 with the aggregate loss of ₹342

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