Futures Market Opens with Predominantly Declining Prices; Crude Oil Futures Drop Over 4%

Deep News09:13

The domestic futures market opened on a weaker note, with the majority of major contracts showing declines at the morning session's start. SC crude oil futures led the losses, falling more than 4%.

Contracts for liquefied petroleum gas (LPG) and containerized freight (Europe route) also dropped over 3%, while methanol futures fell nearly 3%.

Further losses were seen in fuel oil and low-sulfur fuel oil (LU), both down more than 2%. A decline exceeding 1% was recorded for a range of contracts including polypropylene (PP), asphalt, pure benzene, BR rubber, plastic, para-xylene (PX), ethylene glycol (EG), propylene, coke, polysilicon, and styrene.

On the positive side, platinum futures gained over 2%. Iron ore and Shanghai silver futures rose more than 1%, while Shanghai gold, soybean meal, and pulp futures advanced nearly 1%.

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