Warhel :: Indian Basket of Crude Oils Falls Below 50dollar a Barrel

Indian Basket of Crude Oils Falls Below 50dollar a Barrel

Updated on: 07-Aug-2015 Views: 105 Views
NEW DELHI: With global prices in free fall, the Indian basket of crude oils has again breached the psychological $50-mark this year, from levels of over $100, closing trade on Thursday at $49.11 a barrel of nearly 160 litters.

Indian Basket of Crude Oils Falls Below 50dollar a Barrel


Particularly since global powers signed the historic nuclear deal with Iran last month, traders have worried that crude supply might exceed the demand.



The global oversupply is currently running at two million barrels a day, compared to 1.8 million during the first six months of the year, American investment firm Goldman Sachs said in a report on Thursday.



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