MEK Weekly Report 20 Oct 2018

Weekly Price Trend: 15-10-2018 to 19-10-2018

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have decreased in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 101/Kg for Kandla port.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have decreased in compare to previous week and were assessed at the level of Rs 101/kg.
• This week in international market, prices of MEK have remained same in compare to previous week.

• There has been significant decline in crude prices in last two weeks. Prices plunged by more than 11 % in last two weeks. Oil prices rose to nearly four-year highs at the start of October as there has been depletion in crude supply sue to US sanctions on Iran.
•  Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
• The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
• The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.

  $1 = Rs. 73.32
 Import Custom Ex. Rate USD/ INR: 74.30
 Export Custom Ex. Rate USD/ INR: 72.60