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Oil Pries Surge: On the first business day of the week on Monday, oil prices continued for last week. Brent crude is at $ 66.47 per barrel. While the intermediate crude is trading at $ 64.59. Meanwhile, investors are eyeing a meeting between the US and Chinese officials in London. Both countries are trying to reduce tension on trade. & Nbsp;
This decision of China has an impact on oil prices
On Saturday, US President Donald Trump and his Chinese counterpart Xi Jinping spoke on the phone for about 90 minutes. After this, Trump gave information about this meeting and also said that China is ready for the shipment of rare economy in America.
Actually, prohibiting China’s rare meaning elements in April has also affected oil prices because these rees are used on a large scale to make drilling machines, pumps, etc. in oil and gas industry. China is the largest exporter of rare meanings in the world. In such a situation, the oil and gas industry will be affected by stopping export from China. & Nbsp;
This is also the big reason for the rise in oil prices
Last Monday, there was a rise in oil prices, causing American crude oil prices to reach a two-week high level as investors ignored OPEC Plus’s decision to increase oil production per day amidst gearful stresses. On June 8, Ukraine attacked with a drone, targeting the Russian airport. Earlier on the night of June 6, Russia launched a big attack on Ukraine.
Both countries are continuously retaliating on each other. Due to this, the possibility of conversation on ceasefire between Russia and Ukraine has started staggering again. Meanwhile, Ukraine’s Russian oil refineries are expected to be targeted and if this happens, its effect will be seen on the oil market because Russia is a big supplier of crude oil. & Nbsp;
The impact of increasing oil price was also seen in some cities of India. Let us see what is the price of petrol and diesel today in the four major metros of the country- & nbsp;
- Petrol in Delhi Rs 94.72 and diesel Rs 87.62 per liter
- Petrol in Mumbai Rs 103.44 and diesel Rs 89.97 per liter
- Petrol in Chennai Rs 100.76 and diesel Rs 92.35 per liter
- Petrol in Kolkata Rs 104.95 and diesel Rs 91.76 per liter
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