Quote on Indian Crude Basket has Crossed $100/barrel by Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings, ICRA Ltd
Below the Quote on Indian Crude Basket has Crossed $100/barrel by Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings, ICRA Ltd
"The renewed hostilities between Iran and US, pose a challenge for the limited crude oil supplies coming through the Strait of Hormuz. Further, as Iran threatens to establish a new restricted maritime zone extending beyond the Strait of Hormuz, additional energy flows beyond the latter could be at risk. Owing to these developments, crude oil prices have increased in the past few days and Indian crude basket has crossed the $100/barrel mark. As a result of the surge in crude prices, marketing margins on auto fuels are likely to turn negative and domestic LPG under recoveries could increase from the current ~Rs 200/cylinder."
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