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Brent crude fell 6.95% to $78.89 a barrel on Friday, its lowest since October 1, on demand concerns from renewed COVID-19 cases in Europe. Indian state fuel retailers are reportedly considering small cuts to petrol and diesel prices.
Domestic pump prices have been frozen since Nov. 4.
Falling international crude on weaker demand expectations reduces energy input costs and may prompt retail fuel price cuts in India, though the effect on feed commodity prices is indirect.
hindustantimes.comRajeev JayaswalNov 21, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Confirms Brent closed at $78.89, its lowest since Oct 1, on European COVID demand concerns, though the stated 6.95% figure is inconsistent with the 1-day move and the article is dated after it.
