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Hot Commodities: Oil tumbles over 1% on caution ahead of payrolls, OPEC

03-Jul-25 13:36 Hrs IST

Oil futures extended losses in the mid-Asia session today, falling over 1% as traders turned cautious ahead of the US non-farm payrolls report and other key data that could influence the Federal Reserve's rate cut timeline and global demand outlook. Sentiment took a further hit after official data showed US crude inventories rose by 3.85 million barrels last week'the largest jump in three months'signaling sluggish refinery demand. Meanwhile, OPEC+ is reportedly set to increase production by 411,000 barrels per day in August, bringing total supply additions in 2025 to 1.78 million bpd, adding to concerns of oversupply. However, continued weakness in the US dollar is helping to cushion the fall in oil prices. On the domestic front, MCX July expiry crude futures slipped by 0.9 percent to ₹5703 per barrel. Oil had spiked around 3% in last session, hitting around one and half week high of $67.60 per barrel.

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1	01-04-2025	IA	REQUEST FOR PROPOSAL FOR APPOINTMENT OF CONCURRENT INTERNAL AUDITORS FOR PERIOD APRIL 2025 – MARCH 2026
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3	24-04-2025	IT	RFP for Services of IT Infrastructure Shifting & Configuration	Closed
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21	02-05-2023	IA	RFP For Appointment Of Internal Auditor for July 2023 - March 2024	Closed
22	02-05-2023	IA	RFP For Appointment Of Internal Auditor for July 2023 - March 2024 for operations, accounts and control related activities.	Closed
23	24-04-2023	CS	RFP PCS Empannelment for ROC filing 2022-23	Closed
24	24-04-2023	IA	RFP For Appointment Of Internal Auditor iCOM 23-24	Closed
25	14-03-2023	IA	RFP for appointment of internal auditor in the iCOM	Closed
26	25-04-2023	CS	RFP For Secretarial Audit 22-23	Closed