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Crude oil prices rise on global tensions

  •   Mon, Mar 08 2021 04:01:10 PM

New Delhi, Mar 8 (IANS): Global crude oil prices jumped above $70 a barrel on Monday for the first time since the Covid-19 pandemic began.

The spike in oil prices comes after Iran-backed Houthi rebels unleashed a coordinated attack on Saudi Arabia's oil facilities and military bases.

Consequently, the Brent crude futures jumped above $70 a barrel on Monday.

Similarly, the US crude touched its highest in more than two years.

Parallelly, the rise will have an impact on domestic petrol and diesel prices.

Lately, prices of petrol have crossed the psychological Rs 100 per liter-mark in some cities leading to increasing public outcry against the high prices and the inflationary impact of auto fuels.

"Geopolitical tensions have supported the crude prices. Brent may test $73 and WTI may test $70," Anuj Gupta, DVP Research, Angel Broking.

"Petrol and diesel prices may rise further in India."

 
  

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Comment on this article

  • Jossy Tauro, Mangalore

    Mon, Mar 08 2021

    In India price will become double century.

    DisAgree [2] Agree [5] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, Mar 08 2021

    Andh Bhakts will rejoice if Petrol touches Rs. 200 ...

    DisAgree [2] Agree [7] Reply Report Abuse

  • francis lobo, Mangalore

    Mon, Mar 08 2021

    $100 Will be a good price for all people working in the middle east. The economy will change drastically which is threatened by the COVID pandemic.

    DisAgree [4] Agree [10] Reply Report Abuse

  • David Pais, Mangalore

    Mon, Mar 08 2021

    when da crude oil in da int'l market was $140/- p/b, upa sold petrol & diesel in india at Rs.70/-

    DisAgree [2] Agree [12] Reply Report Abuse

  • Sangram Sangam, Kundapur

    Mon, Mar 08 2021

    What you told is exactly correct But that time oil brought through credit 2 Lalkhs crores loan repayeed by Modi Govt,This is fact

    DisAgree [9] Agree [6] Reply Report Abuse

  • stephen, Mangalore

    Mon, Mar 08 2021

    Those were days when our beloved Dr. Manmohan Ji was ruling. He never ever chest thumped of his achievements, neither he wanted any credit and he never Lied as a prime Minister. Its better to use our brains while voting rather than our emotions, However Nithin Gadkari Ji is also not a bad choice.

    DisAgree [2] Agree [7] Reply Report Abuse

  • rolf, Dubai 70

    Mon, Mar 08 2021

    One person was arrested by the Konaje police on the allegation of stealing a motorbike and a donation box from a temple. The arrested has been identified as Tharanatha Mohan from Montepadavu, convenor of Vishwa Hindu Parishad (VHP) in Ullal.

    DisAgree Agree [2] Reply Report Abuse


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