Zee Media Bureau
The international crude oil price of the Indian basket, computed by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas, fell to USD 46.97 per barrel on Wednesday, compared to USD 49.22 per barrel on the previous publishing day.
In rupee terms, the price of Indian Basket decreased to Rs 2980.25 per barrel on January 7 as compared to Rs 3120.06 per barrel on January 6, an official press release said.
European benchmark Brent oil briefly sank under USD 50 Wednesday for the first time since 2009, but prices later recovered following mixed demand signals in the United States. In morning London deals, Brent North Sea crude for delivery in February dived to another 5.5-year low at USD 49.66 a barrel, last seen in late April 2009.
