Crude price touches $81, highest level since Aug '24

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Times of India 1d ago

Crude price touches $81, highest level since Aug '24 - Times of India

Quick Summary:

Global oil prices surpassed $81 per barrel, the highest since August 2024, driven by fears of US shipping sanctions affecting Russian oil supplies.

This surge is likely to prevent fuel price cuts in India, eliminating the increase in retailers' profits and causing stock declines for major fuel retailers IndianOil, Hindustan Petroleum, and Bharat Petroleum.

Market leader IndianOil and Hindustan Petroleum scrips fell over 6%, while Bharat Petroleum dropped more than 4% on the NSE.