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Wednesday, 10 September 2008

Indian crude basket may range between $99-$101/barrel

New Delhi, Easing of the global crude oil prices could result in decline in prices at which India buys its crude to below $100 a barrel.

The Indian basket, which had touched a five-month low on Monday at $101.65 a barrel, could be in the range of $99-$101 a barrel on Tuesday, industry officials said. Courtesy:Business Line

The Indian crude basket comprises Oman-Dubai sour grade crude and Brent dated sweet crude in a 62.3:37.7 ratio. However, the recent trend shows that Dubai-Oman crude does not necessarily follow the Brent movement, sources said.

On Monday, while Dubai-Oman crude oil prices went up marginally, the dated Brent crude fell 39 cents a barrel to $101.64.


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