Petrol and diesel prices may increase in the coming days. Indeed, after the US drones a drone of Iran, there is a tension in the International market. Because of this, crude oil prices have risen more than 2 percent on Friday. There is a possibility that this speed will continue even further. If this happens then it can be seen in the prices of petrol and diesel. Explain that oil prices are determined only on crude oil fluctuations in the international market.
Reason of these Circumstances
Indeed, US President Donald Trump has told that a US warship has destroyed an Iranian drone in the Hormuz Mountains. Trump reported that a US Navy warships USS Boxer gave several warnings to a drone flying inside 1,000 yards, but the warship blew it off when ignored. This is the reason that the prices of crude oil increased.
Let us tell you that in the last four seasons, Brent’s price has dropped by almost four dollars per barrel. Brent’s price, which was trading above $ 66 a barrel at the beginning of the week, closed at $ 62.55 a barrel after plunging to $ 61.30 on Thursday.
According to Angel Broking deputy vice president (energy and currency research) Anuj Gupta, the price of crude oil has declined due to softening in demand and there is still no demand for demand, but the tension between the US-Iran in the Gulf region Crude oil prices will get support from the gaharna. He said that on the other hand, after the weakness in the dollar due to the signs of interest cut in the US, investors can invest in crude oil investment instruments instead of dollars.