Crude at $123 and weak rupee squeeze Indian oil buyers
FROM THE WIRE · FINANCE.YAHOO.COM
The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bullishCrude near 2012 highs and a war premium weigh on margins and the energy import bill.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The Indian crude basket hit $123.29 per barrel last week.
- 02India's crude oil import bill rose to $90.6 billion in the third quarter.
- 03A weaker rupee and a war premium caused Indian fuel marketers to lose money.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets