
Russia warns of $300 a barrel crude oil as US bans imports
Brent crude – the international benchmark – is trading above the $130 per barrel mark.
Brent crude – the international benchmark – is trading above the $130 per barrel mark.
The top five gainers on the Sensex pack were Sun Pharma Industries, Tata Consultancy Services, NTPC, Wipro and Tech Mahindra.
State-run oil marketing companies in India have yet to hike retail prices of petrol and diesel.
With brent crude trading near $130 a barrel and rupee hitting an all-time low of nearly 77 a dollar, the benchmark indices tumbled over 3% in early trade on Monday.
The BSE Sensex and the NSE Nifty are set to open lower on Wednesday, mirroring weakness in global equities and negative trade at SGX Nifty.
The petrol and diesel prices have not been revised since the central government reduced the excise duty on the two fuels in November 2021.
The Brent crude price topped $105 a barrel after Russia launched its full-scale invasion of Ukraine.
Reliance Industries (RIL), Indian Oil Corporation, Hindustan Petroleum Corp and Bharat Petroleum Corp will have to cough up more to buy the expensive crude.
The BSE Sensex and the NSE Nifty are set to open sharply higher on Friday after record selling in the previous session amid Russia-Ukraine conflict.
Government sources confirmed that the meeting will take place today evening.