Crude oil prices have again seen an increase.
Crude oil prices increased by about 3% in early trading on Wednesday. The special thing is that the prices of crude are increasing for the second consecutive day. According to Reuters report, crude oil prices are increasing after several attacks against Iran by the US Army. Due to which the possibility of ceasefire breaking has increased once again. The US Central Command said on Tuesday that these attacks against Iran were carried out in response to Iranian attacks on three commercial ships passing through the Strait of Hormuz. On the other hand, there has been no change in the prices of petrol and diesel in India. According to experts, until the prices of crude oil remain stable in the international market, there is no possibility of reduction in fuel prices. Let us also tell you at what level the prices of crude oil are trading in the international market.
Crude oil prices in international market
There has been a tremendous increase in the prices of crude oil in the international market. If we look at the data, the price of Brent crude has crossed the level of $ 76 per barrel. On Wednesday, crude oil from Gulf countries was seen at $ 76.09 per barrel with a rise of about 3 percent, which was also seen crossing the level of 76.25 during the trading session. Whereas on July 6, the price of Brent crude closed below $72 per barrel. On the other hand, there has also been a rise in the prices of American crude. If we look at the data, the price of WTI has crossed the level of 72.50. Since July 6, it has seen an increase of about $4 per barrel. At present, the price is trading at $72.37 per barrel with an increase of about 3 percent.
Why did crude oil prices rise?
The increase in crude oil prices was seen when the US canceled the general license allowing the sale of Iranian crude following Iranian attacks on commercial ships. Qatar blamed Iran for the attack on the ships. These ships also included Qatar’s huge liquefied natural gas tanker ‘Al Reqayat’, whose engine room caught fire due to the drone attack. The crew is safe and have been evacuated. Maritime security sources said that a Saudi Arabia-flagged crude oil tanker, believed to be the supertanker ‘Wedyan’, was also damaged near Oman. The cause of the damage was not immediately clear.
Petrol and diesel prices in India
On the other hand, there has been no change in the prices of petrol and diesel in India. Last time there was any change in the prices of petrol and diesel in the country. Then there was an increase in fuel prices in the country. According to IOCL data, the price of petrol and diesel in Delhi is Rs 102.12 and Rs 95.20 per liter respectively. The price of petrol in Kolkata is Rs 113.51 and the price of diesel is Rs 99.82 per liter. In Mumbai, the prices of petrol and diesel are seen at Rs 111.21 and Rs 97.83 per liter respectively.
Whereas in Chennai the price of petrol has come to Rs 107.77 and diesel to Rs 99.55 per liter. However, in the month of May, there was an increase of 7 to 8 percent in fuel prices. According to experts, there is no possibility of reduction in the prices of petrol and diesel in the country in the coming days. He believes that until the prices of crude oil become stable in the international market, there will be no change in the prices of petrol and diesel in the country.
