Friday, November 8, 2019

Oil prices increased

A spokesperson for China’s Commerce Ministry, Gao Feng said at a weekly briefing in Chinese that U.S and China have agreed to remove the additional duties imposed on each other’s products in different phases after they make progress in reaching a deal. Canceling tariffs is vital to the first phase of their trade agreement, which both sides have agreed to do as negotiations progress.

But stock market retreats as Trump says he hasn't agreed to roll back China tariffs. U.S. stocks traded mostly lower after President Trump cast doubt on earlier reports that the administration would agree to roll back import duties on China as part of a œphase-one trade deal.

U.S Crude Oil WTI closed at $57.24 per barrel, while International Brent Oil Future closed at $62.51.

The benchmark RSS4 grade rubber closed at `.126 a kg at Kottayam, while RSS3 grade closed at `.106.46 a kg at Bangkok and Malaysian SMR20 closed at `.96.05 a kg. On ICEX, November 2019, the futures closed at `.128.10 a kg, December at `.129.09, January 2020 at `.130.28, February at `.125.77, March at `.127.03 and April closed at `.128.30 a kg. Tokyo Commodity Exchange November 2019 futures series closed at ¥158.9 a kg, December at ¥162.8, January 2020 at ¥166.5, February at ¥170.6, March at ¥174.9 and the contract for delivery in April 2020 closed at ¥177.3 a kg.

To read Rubber4U – 15th November 2019 issue:
For National Rubber Policy:

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