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,
» Read More
