On Friday morning, crude oil -futures were exchanged lower in the midst of expectations of reduced American oil demand as the summer driving season ends on Monday.
At 9.58 am on Friday November, the Futures of Brent Oil was $ 67.60, with 0.56 percent, and October crude oil Futures on WTI (West Texas Intermediate) were at $ 64.23, a decrease of 0.57 percent. September crude oil -futures were traded at £ 5645 on Multi Commodity Exchange (MCX) during the first hour of trade on Friday against the previous £ 5,619 closure, an increase of 0.46 percent, and the futures of October were traded against £ 5,617 against the previous £ 5,588, rise.
Markets expect the reduction of American oil consumption as the driving season ends on Monday with Labor Day. US is an important consumer of crude oil on the world market.
Markers are also concerned about a global supply flow after the recent prediction of the International Energy Agency that the supply will surpass demand in the coming months. Added to this, OPEC+ is also increasing production in September.
In their raw materials, Warren Patterson, head of the raw material strategy at ING Think, and Ewa Manthey, the strategist of the raw materials, said that the German Chancellor Friedrich Merz is the statement of Merz Merz that it is unlikely that Russian and Ukraian presidents will give a blow to the hope.
Given the lack of progress since the top of Russian President Vladimir Putin with US President Donald Trump, this is not a big surprise, they said.
In the meantime, Russia carried out a new wave of attacks on KYIV, causing buildings to be damaged with the EU mission and the British Council. The lack of progress in the direction of a peace agreement means that the risks of sanctions and secondary rates linger over the oil market, they added.
September Menthaoil Futures traded at £ 971.50 on MCX during the first hour of trade on Friday against the previous closure of £ 9.68.40, an increase of 0.32 percent.
On the National Commodities and Derivatives Exchange (NCDEX), turmeric (polished) contracts were traded in October at £ 13,352 in the first hour of trade on Friday against the previous £ 13,260, an increase of 0.69 percent.
September Cottonseed Oilcake Futures traded at £ 3,416 on NCDEX in the first hour of trade on Friday against the previous closure of £ 3,428, with 0.35 percent down.
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Published on August 29, 2025
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