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Crude oil prices dip slightly on weak China data and Fed meeting anticipation; check petrol, diesel prices on 17 December 2024 in Shimla, Noida, Lucknow, Mumbai and others

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Crude oil prices dip slightly on weak China data and Fed meeting anticipation; check petrol, diesel prices on 17 December 2024 in Shimla, Noida, Lucknow, Mumbai and others

Crude oil price fell marginally on November 17 in early Asian trading. Brent crude futures declined by 1 cent and touched the mark of $73.90 per barrel. Similarly, US West Texas Intermediate (WTI) showed a downward movement of 6 cents and reached $70.65 per barrel. 

Sriram Iyer, Senior Research Analyst at Reliance Securities said,”Crude oil and gasoline prices settled moderately lower on Monday. Weakness in Chinese economic news is bearish for energy demand and oil prices.  Also, last month’s weaker-than-expected U.S. and Eurozone manufacturing activity was bearish for crude. Losses in crude were limited on Monday due to a weaker dollar. NYMEX and Brent crude oil prices have started flat on Tuesday morning in Asian trading ahead of Fed and inventory data this week.”

Also ReadGold and silver prices fall over 1% in Mumbai, Delhi, Chennai, Kolkata: Here are latest prices in other cities

Oil prices fell from multi-week highs on Monday, pressured by weaker-than-expected consumer spending data from China, despite stronger industrial output. Investors also adopted a cautious stance ahead of the U.S. Federal Reserve’s policy meeting, which began Tuesday.

The Fed is widely expected to announce a quarter-point interest rate cut, its final decision of the year. Market focus is on signals about future rate cuts in 2025 and 2026, especially in light of potential inflation concerns under the incoming Trump administration.

Also ReadHow do you calculate Gold Loan Gram Rate ?

Check latest Petrol and Diesel prices at your place on 17 December 2024

New Delhi: Petrol price: Rs 94.77 per litre, Diesel price: Rs 87.67 per litre

Kozhikode: Petrol price: Rs 105.91 per litre, Diesel price: Rs 94.91 per litre

Chennai: Petrol price: Rs 100.80 per litre, Diesel price: Rs 92.39 per litre

Mumbai: Petrol price: Rs 103.50 per litre, Diesel price: Rs 90.03 per litre

Lucknow: Petrol price: Rs 94.73 per litre, Diesel price: Rs 87.86 per litre

Bangalore: Petrol price: Rs 102.92 per litre, Diesel price: Rs 88.99 per litre

Hyderabad: Petrol price: Rs 107.46, Diesel price: Rs 95.70 per litre

Bhubaneswar: Petrol price: Rs 103.54 per litre,

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