MY:India crude oil basket price declines USD 102.96 a barrel mark
The international crude oil price of Indian Basket fell below USD 103 mark to reach USD 102.96 a barrel (bbl) on Nov. 8, 2013. This was lower than the price of USD 103.54/bbl which prevailed on the previous trading day of Nov. 7, 2013.
In rupee terms also, the crude oil price continued to decline to rule at Rs 6,458.68 a bbl on Nov. 8, 2013 as compared to Rs 6,478.50 /bbl on Nov. 7, 2013. This was due to fall in price dollar terms, though rupee appreciation wiped out a part the gains from fall in price in dollar terms.
Rupee-dollar exchange rate on Nov. 8, 2013 was Rs 62.73/USD against Rs 62.57/bbl on previous trading day of Nov. 7, 2013.
