Crude Oil Price Crash: There is a 5 percent drop in the price of Brent crude oil. Because of which Brent crude has decreased by about $ 4 per barrel to reach $ 73.62 per barrel.
Crude Oil Price : Amidst the news of sinking of Credit Suisse, one of the world’s biggest banks, there has been a decline of about 4 percent in the price of crude oil in the global market. American oil is seeing a decline of more than 5 percent and the price of Middle East oil is also seeing a decline of about 5 percent.
Because of which the prices of crude oil have come down to the lowest level in a year and a half. Along with this, crude oil is trading with a decline of about 6 percent in the Indian futures market. According to experts, due to the fall in crude oil, this year the price of petrol and diesel can be seen to fall by Rs 15.
Crude oil broke in foreign markets
The impact of the earthquake in the financial sector is also being seen in the price of crude oil. According to Bloomberg Commodity, there is a 5 percent drop in the price of Brent crude oil. Because of which Brent crude has decreased by about $ 4 per barrel to reach $ 73.62 per barrel. Whose chances of going below $72 per barrel are visible. At the same time, there is a 5.26 percent decline in the price of American Oil WTI and the price has come down by $ 3.63 per barrel to $ 67.70 per barrel. The prices of both crude oil have come down to the lower level of December 2021.
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Crude oil became 6 percent cheaper in India
On the other hand, in the futures market of India, there is a decline of about 6 percent in the price of crude oil and the price has come down by Rs 346 to Rs 5,637 per barrel. Crude oil had gone up to Rs 5,617 during the trading session. By the way, crude oil had opened at Rs 5,968 in the futures market. If experts are to be believed, the chances of crude oil coming down to Rs 5,500 are visible.
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Will petrol be cheaper?
According to Anuj Gupta, director of Kedia Advisory, there may be a further decline in the price of crude oil. The price of Brent crude oil can go up to $72. Which was already being predicted. In fact, due to the sinking of the financial sector, there is a decline in the price of crude oil. According to Anuj Gupta, Vice President of IIFL, there may be a fall in the price of petrol and diesel this year. With the joint efforts of the government and the oil market companies, the price of fuel can be reduced by Rs 15 per litre.
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