Texas is expected to see a 14.3 percent drop in the revenue it derives from oil production and taxes due in its upcoming budget cycle because of falling oil prices, the state's comptroller said on Monday.
Oil production and regulation taxes are expected to generate $5.7 billion in revenue in the upcoming two-year budget cycle, while revenue from natural gas is expected to fall by 8 percent from the current two-year period to $3.2 billion.
1. COMMODITY SUMMARY 13.01.15
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Market Highlight
Gold prices eased lower in early Asia on
Tuesday with investors warily eyeing the
global commodity complex as crude oil
continues to plunge. On the Comex division
of the New York Mercantile Exchange, gold
futures for February delivery traded at
1.230.90 a troy ounce, down 0.15%, while
silver futures for March delivery climbed
0.05% to trade at $16.572an ounce.
Asian stocks were mostly firmer after
benign Chinese economic data helped
offset risk aversion generated by a
continuing slide in crude oil prices, while
the dollar fell to a one-month low against
the safe-haven yen. MSCI's broadest index
of Asia-Pacific shares outside Japan pared
earlier losses to rise 0.3 percent after
Chinese trade data proved better than
expected.
Texas is expected to see a 14.3 percent
drop in the revenue it derives from oil
production and taxes due in its upcoming
budget cycle because of falling oil prices,
the state's comptroller said on Monday. Oil
production and regulation taxes are
expected to generate $5.7 billion in
revenue in the upcoming two-year budget
cycle, while revenue from natural gas is
expected to fall by 8 percent from the
current two-year period to $3.2 billion.
SUPPORT AND RESISTANT LEVEL
COMMODITY S2 S1 PP R1 R2
GOLD 26701 26865 26990 27154 27279
GOLD MINI 26717 26874 26997 27154 27277
SILVER 36584 36777 37041 37234 37498
SILVER MINI 36550 36768 37045 37263 37540
COPPER 370.1 373.6 378.0 381.5 386.0
NICKEL 924.73 932.0 941.8 949.1 958.9
LEAD 113.3 114.4 115.1 116.2 116.9
ZINC 130.3 131.33 132.8 133.8 135.3
ALUMINIUM 110.4 111.20 112.1 112.9 113.8
N. GAS 167.8 171.3 176.9 180.4 186.0
CRUDE OIL 2800 2845 2909 2954 3018
MENTHAOIL 725.8 736.6 755.6 766.4 785.4
CPO 456.9 459.3 463.4 465.8 469.9
CARDAMOM 892.6 896.4 898.7 902.5 904.8
COTTON 15066.7 15123.3 15216.7 15273.3 15366.7
MCX MARGIN
Commodity
Expiry
Margin
%
Lot
Value(Rs)
Approx
Margin
(Rs)
GOLD 05-Feb-15 5.00% 27,03,000 1,35,150
GOLDM 05-Feb-15 5.00% 2,70,320 13,516
SILVER 05-Mar-15 6.87% 11,09,130 76,197
SILVERM 27-Feb-15 6.85% 1,84,935 12,668
COPPER 27-Feb-15 5.00% 3,77,100 18,855
NICKEL 30-Jan-15 6.00% 2,34,800 14,088
LEAD 30-Jan-15 5.00% 5,77,000 28,850
ZINC 30-Jan-15 5.00% 6,61,750 33,088
ALUMINIUM 30-Jan-15 5.00% 5,60,000 28,000
NATURALGAS 27-Jan-15 12.12% 2,18,375 26,467
CRUDEOIL 16-Jan-15 9.21% 2,89,000 26,617
MENTHAOIL 30-Jan-15 5.83% 2,69,028 15,684
CPO 30-Jan-15 5.00% 4,61,600 23,080
CARDAMOM 15-Jan-15 32.19% 90,010 28,974
COTTON 30-Jan-15 5.00% 3,79,500 18,975