Crude Oil prices are in under pressure due to Data released of Japan’s industrial production which is worlds third biggest crude oil consumer. Crude Oil prices have come down to $ 37.80 per barrel in global market. And because of the decline in Global Market Crude oil may fell on domestice market too.
In the last session of crude oil gain almost 1.5 percent in domestic market and closed on Rs 2,528 per barrel. Japan is the third largest consumer crude oil in the world but there is decline in industrial production during November month, according to their official figures industrial production has gone down by 1 per cent during November month. Only because of decline in industrial production crude oil trend has declined.
Brent crude prices declined during the last 3-4 trading session on foreign markets while US crude oil is also going to downside. On Monday also Brent crude is trading below American crude. US Crude oil is trading $ 37.80 level while brent crude was decliened and trading at
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