Indian crude basket price exceeded by $38 a barrel on Thursday. Oil prices are likely to increase. Strengthening of the rupee against the dollar put pressure on the oil companies has shrunk slightly.
According to data released by the oil ministry on Thursday against Wednesday's price of Indian basket of crude oil at $ 1.95 a barrel to $ 38.05 per barrel, or about 5 percent more expensive and reached 38.05 dollars per barrel. However, the 0.7 percent growth witnessed in the rupee.
With the help of appreciation in rupee decline in the Indian rupee against the dollar basket of crude oil has dropped. According to the oil ministry on Thursday, crude oil basket was at 2545 per barrel. 4.68 percent, as compared with the previous session witnessed.
MCX Crude prices continued to rise on Wednesday as oil companies increase prices of petrol and diesel. Similarly , if crude prices continued to rise till the end of March, There would be no hope in prices of CrudeOil. The rise in prices is also possible.
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