New Delhi: The effect of increasing tension in the Middle East is now visible on the price of oil. After the latest tension between America and Iran, the prices of transplanted oil have increased again. On Monday, Brent transplanted crossed Rs 73 per barrel. At the same time, American transplanted was moreover seen trading whilom Rs 70. However, it is a matter of relief that the rates of petrol and diesel have not increased in India yet.
Why have the prices of transplanted oil increased?
Experts say that due to US-Iran tension, the supply of oil from the Strait of Hormuz has been affected. The movement of oil ships through this route has slowed down. About 20% of the world's oil passes through here. Due to the tension of tight supply, prices increased in the international market.
How expensive did oil wilt in the international market?
Brent transplanted reached Rs 73.15 per whisk in Monday's trading. US WTI transplanted moreover remained whilom Rs 70. Last week there was a fall in transplanted oil, but the latest situation in the Middle East reverted the whole game.
Why did the Strait of Hormuz wilt a rationalization of tension?
The Strait of Hormuz is the world's most important oil route. In the last few days, the movement of tankers has been unauthentic due to attacks on ships and increasing tension here. The market fears that if the situation worsens, the global oil supply may get seriously disrupted.
Will petrol and diesel wilt expensive in India?
Its effect has not been seen in India yet. The prices of petrol and diesel in the country have remained the same for the last 35 days. Experts say that oil companies are keeping an eye on the international market. If transplanted remains expensive for a long time, then only fuel rates can increase.
What did Saudi Aramco do?
Meanwhile, Saudi government visitor Aramco has started loading transplanted oil from its Ras Tanura terminal again. This is expected to provide some relief to the market. But experts believe that until the tension in the zone does not end completely, it will take time for the supply to wilt normal.
What are the rates of petrol and diesel in big cities?
There is currently no transpiration in rates in all major cities including Delhi, Mumbai, Kolkata and Chennai. Oil companies review rates daily. Till now the customers have not got any relief and there has been no increase either. What happens next, these transplanted prices will decide.
