New Delhi. The impact of the missile and drone attack on Saudi Arabia’s oil terminal can be quite profound on the Indians. Brent crude oil prices have reached a 15-month high due to this attack. While the price of WTI has also reached a 3-year high. On the other hand, OPEC Plus is also seeing the impact of the decision to continue cutting oil production. According to a Goldman Shakes report, crude oil prices in the third quarter can be reached at $ 80 per barrel. Last week, the price of crude oil was increased by more than 4.5 percent. Whereas in 2021, there has been an increase of 35% in the price of crude oil in 2021. With the increase in the price of crude oil, the possibility of increase in the price of petrol and diesel in India has increased. In India, petrol prices are already crossing Rs 100 and diesel prices are crossing Rs 80.
Crude oil price rises by more than 2 percent
At present, there is a tremendous increase in the price of crude oil. Brent crude oil prices have gone up by 2.50 per cent to cross $ 71 per barrel. According to the report, this is the highest level of Brent crude since November 2019. That is, Brent crude oil prices have reached a 15-month high. On the other hand, US Oil West Texas Immediate Crude Oil has gained 2.22 percent to $ 67.56 per barrel. The WTI has reached a three-year high. The price of crude oil has seen more than 35 per cent rise in 2021. However, the previous week saw a gain of 4.50 percent.
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Crude oil has been around 5000 in domestic market
If we talk about the domestic market MCX, then the price of crude oil has reached close to Rs 5000 per barrel. According to the data, at the time of opening of the market at 9 am today, the price had come to Rs 4920 per barrel. During the 15-minute trading session, the price of crude oil has reached the highest level of Rs 4967. Presently, the price of crude oil is trading at Rs 4951 per barrel with a rise of Rs 107 per barrel.
Petrol and diesel prices will increase
With the increase in crude oil, the possibility of further increase in the price of petrol and diesel in India has increased. India uses Brent crude oil the most. In such a situation, Indian oil companies will be forced to buy expensive oil. Similarly, the prices of petrol and diesel are going on all the time in the country. According to experts, the price of petrol and diesel can be seen in the coming days. Presently, the price of petrol in the country’s capital Delhi is 91.17 and diesel at Rs 81.47 per liter. There has been no change in the prices of petrol and diesel for a long time.
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