India's average crude import price soared to above $100 per barrel at the end of last week and is set to further rise this week as international crude prices rallied amid intensified hostilities in the Middle East.
The so-called Crude Oil FOB Price, or the Indian Basket of average sweet and sour grades, surged to $101.07 per barrel on Friday, topping the $ 100-a-barrel threshold for the first time since May, data by the Indian Oil Ministry's Petroleum Planning and ******* ysis Cell (PPAC) showed.
The Indian basket of crude oil is the average of a derived basket comprising a sweet-grade benchmark, Dated Brent, and the sour-grade benchmark of the Oman and Dubai average imported by Indian refineries during each month.
As of Monday, the average Indian Basket of crude oil so far in September was $99.38 per barrel, up from $83 in June, $82 in July, and $90 in August.
The average hit $100 in early September, as international crude oil prices rallied amid the re-escalation in the Middle East, as the United States and Iran continue to exchange strikes and fire for more than a week now.
#Indian #east #price
The so-called Crude Oil FOB Price, or the Indian Basket of average sweet and sour grades, surged to $101.07 per barrel on Friday, topping the $ 100-a-barrel threshold for the first time since May, data by the Indian Oil Ministry's Petroleum Planning and ******* ysis Cell (PPAC) showed.
The Indian basket of crude oil is the average of a derived basket comprising a sweet-grade benchmark, Dated Brent, and the sour-grade benchmark of the Oman and Dubai average imported by Indian refineries during each month.
As of Monday, the average Indian Basket of crude oil so far in September was $99.38 per barrel, up from $83 in June, $82 in July, and $90 in August.
The average hit $100 in early September, as international crude oil prices rallied amid the re-escalation in the Middle East, as the United States and Iran continue to exchange strikes and fire for more than a week now.
#Indian #east #price
7 days ago
