The price of Indian Basket oil was $ 103.5 per barrel on March 16, averaging $ 85 in January

The price of Indian basket oil is $ 103.5 on March 16 from $ 85 in January

The price of an Indian crude oil basket was $ 103.50 per barrel on March 16, 2022, at Rs 76.35 per barrel, according to the latest data from the Ministry of Petroleum.

On Friday, Brent crude oil prices rose to near $ 110 a barrel, and volatility in Russia-Ukraine peace talks is expected to extend volatility.

The surge in crude oil markets has been reflected in oil price movements since Russia invaded Ukraine on February 24, with Brent rising to a multi-decade high of nearly $ 140 a barrel and falling below $ 100 earlier this week.

Fears of a long supply disruption deepened market volatility in the third week as Brent crude oil rose more than 2% in early Friday, selling for close to $ 110 per barrel after rising nearly 9 percent on Thursday. Since mid-2020, the most significant percentage gain.

U.S. crude rose more than 2.5 percent today to nearly $ 106 a barrel during trade, as uncertainty over ceasefire talks to end Ukraine’s war is mounting after an 8 percent jump in the previous session.

According to the latest data from the Ministry of Petroleum published on March 17, 2022, the price of crude oil (Indian Basket) was $ 103.50 per barrel on March 16, 2022, at an exchange rate of $ 76.35.

The price of Brent crude was $ 87.22 / bbl on average in January 2022, $ 74.10 / bbl in December 2021 and $ 54.84 / bbl in January 2021.

The average gross basket price in India was $ 84.67 / bbl in January 2022 at $ 73.30 / bbl in December 2021 and $ 54.79 / bbl in January 2021.

Global crude oil prices have risen from about $ 82 per barrel on November 4, 2021 to about $ 110 today, the latest review of Indian gasoline and diesel retail prices on November 4, 2021.

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