• Business

    Crude oil forecast: MCX Crude June futures may fall to Rs 8,350/bbl this week; investors asses supply concerns

    By Jigar Trivedi  WTI Crude oil futures saw the first weekly decline in eight, culminating in a loss of almost 9%, pressured by the recent wave of aggressive rate hikes around the world and mounting recession woes. Increasing production from the US also roiled markets. US crude oil production rose to 12 million barrels per day for the first time since May 2020, while oil rig counts, being an early indicator of the future output, rose to 584 for the week ended 17th June. However, tight supplies capped the losses as Libyan output was almost completely halted amid political unrest.  Meanwhile, US crude oil inventories rose by 1.956 million barrels…

  • Business

    asian paints stock price: Asian Paints stock hits 52-week low. 2 things bothering investors

    Although a favourite of long-term investors for compounding wealth consistently over the last few decades, the stock of has hit a rough patch. The Nifty stock slipped another 3 per cent on Tuesday morning to hit a 52-week low of Rs 2,585.05. The stock is now down over 22 per cent year-to-date (YTD) and 11 per cent in the last one-year period. For investors of Asian Paints, there are two major headaches – rising crude oil prices and ‘s plan to disrupt the paint industry in Jio-style. Crude RealityCrude derivatives roughly form 30-40 per cent of raw material costs for Asian Paints and therefore any rise in crude oil prices…