Global crude oil prices remained at an elevated level today with global benchmark Brent crude trading near 80 dollars a barrel - the highest since 2014. The latest trigger that is supporting crude oil prices is fears that Venezuela's oil out could fall further. Traders are also weighing the possibility of additional US sanctions on the country. Back in India, which imports bulk of its oil requirement, petrol and diesel prices ruled at record highs in the wake of rising global oil prices. Petrol is being sold at Rs. 76.87 per litre in Delhi, Rs. 79.53 per litre in Kolkata, Rs. 84.7 per litre in Mumbai and Rs. 79.79 per litre in Chennai, according to Indian Oil. Diesel retailed at Rs. 68.08 per litre in Delhi, Rs. 70.63 per litre in Kolkata, Rs. 72.48 per litre in Mumbai and Rs. 71.87 per litre in Chennai.
Here are five reasons why crude oil prices are rising:
Crude oil pricescrude oil prices (With Agency Inputs)Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
