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The Organization of the Petroleum Exporting Countries or OPEC is a group of major oil-producing nations. This group coordinates their petroleum production policies to help effectively manage global oil supply and influence crude prices.

Gold prices saw a dip in futures trade on Monday, influenced by weaker global cues and subdued spot demand. While futures declined, retail prices across major Indian cities presented a mixed picture, with some experiencing slight increases and others remaining steady. International gold futures also edged lower, reflecting cautious global trading sentiment.

Despite global energy supply strains due to Middle East conflict, India’s government assures robust domestic fertilizer availability, exceeding current requirements. Commercial LPG allocations have also increased, with officials confirming sufficient supplies and no distributor dry-outs, even as panic buying is reported.

India is securing substantial fertiliser imports, including 64 lakh tonnes of urea and 19 lakh tonnes of other fertilisers, to counter global price hikes driven by the Middle East crisis. Despite increased import costs, retail prices for farmers will remain unchanged, with ample domestic supply assured for the upcoming kharif season.