Petrol-Diesel Rates: In the international market, crude oil is currently trading much below its upper level. WTI (West Texas Intermediate) crude is currently below $68 per barrel and the rates of benchmark Brent crude oil have also fallen to $71. At present, the situation in the international market is looking unstable due to geo-political tension and the latest tension in Syria can add fuel to the fire, which will have an impact on crude oil.
What are the prices of crude oil in the global market?
Currently, the price of WTI crude has reached $67.20 per barrel and a decline of $1.10 or 1.61 percent is seen in it. The impact of the current global crisis is being seen on its prices. After the ongoing crisis in Syria, crude oil investors are adopting a cautious approach. Crude oil has currently come out of the period of strong rise and is moving into the period of decline.
What is the impact on the rate of benchmark Brent crude-natural gas?
The price of benchmark Brent crude has also fallen below 72 dollars and a decline of about 1 dollar is seen and it has also slipped by 1.35 percent. The price of Brent crude is running at $ 71.12 per barrel. At present, a slight decline is being seen in the price of natural gas and it is running at the rate of $3.076.
Why is there hope for crude oil becoming cheaper in India?
At present, there is a hope of crude oil becoming cheaper in India because the prices of crude oil have also fallen in the international market and India has also been buying crude oil from Russia at lower prices. Recently, in the Doha Forum, External Affairs Minister S Jaishankar, while presenting India’s stand regarding the Russia-Ukraine war, gave a befitting reply to questions raised on the purchase of crude oil and asked if any country has a better deal than this, then let them know. ..
For India, there is hope that crude oil will become cheaper in the international market because both Brent and WTI crude have become cheaper, which are used as raw materials for vehicle fuel i.e. petrol and diesel in India.
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