PolyMart Weekly Raw Material & Currency Insights

The commodity and currency markets saw mixed movements this week. Crude prices closed at 64.53, marking a steep weekly decline of 7.99% and extending monthly and quarterly losses of 4.54% and 6.21% respectively. Compared to last year, crude is down 17.16%, significantly lower than its high of 82.03 seen in January. However, it remains 9.47% above the yearly low of 58.95 touched in May. In the currency market, the rupee traded relatively stable. The closing level stood at 88.73, slightly weaker compared to last week with a dip of 0.07%. On a monthly basis, it has slipped 0.75%, and over the quarter by 3.86%. Against last year’s level of 83.99, the rupee has depreciated 5.64%, while it remains close to its yearly low of 88.84 recorded on September 30, just 0.12% away. Natural gas, on the other hand, surged higher. It closed at 3.32, showing a weekly gain of 3.75% and a sharp monthly rise of 8.14%. Over the quarter, it eased 2.35%, but year-to-date, natural gas has advanced 11.78%. Prices remain 44.35% above the yearly low of 2.30 from October last year, though still 26.06% below the yearly high of 4.49 seen in March. Overall, energy markets are reflecting volatility, with crude under heavy pressure, currency holding steady, and natural gas witnessing strong momentum.Disclaimer: PolyMart does not offer guarantees regarding the accuracy, reliability, or completeness of the information provided on its platform. Users are advised to independently verify any data before relying on it for decision-making purposes.