Petrol, Diesel Rate Latest: Oil marketing companies such as state-run Indian Oil Corporation review the rates on a daily basis, and adjust the rates depending on crude oil rates overseas and the rupee-dollar foreign exchange rate.
Symbol: CRUDEOIL| Contract: Mar, 2020| Category: Energy
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Brent crude futures - the global benchmark for crude oil - were last seen trading 0.6 per cent higher at $55.27 a barrel, but were headed for a fifth weekly loss amid lingering fears over the impact of the virus.
India has been diversifying its sources of crude oil imports, in order to hedge political risks that threaten to choke off supplies from a particular region or country.
Sensex : On the global front, the Asian markets, including Hang Seng, Nikkei, Straits Times and Taiwan indices, gained around 1 per cent each, while the Chinese markets eked out gains of half a per cent on hopes that share prices would quickly regain lost ground after the virus gets contained within manageable limits. Oil also hit 13-month lows;...
Benchmark Brent crude oil prices moderated to $58.67 per barrel, down 1.10 per cent. The fall in crude prices was attributed to expected demand slump over rising coronavirus cases in China.
Global stock exchanges also fell as investors grew increasingly anxious about the widening crisis. Demand spiked for safe-haven assets, such as the Japanese yen and Treasury notes.
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