Petrol, Diesel To Get Expensive As Crude Jumps 13% On Attack in Saudi

Petrol and diesel prices are set to get expensive in India, as crude oil prices jumped nearly 13 per cent, following a drone attack on a major Saudi facility.

Benchmark Brent crude futures soared $7.66, or 12.80 per cent to $67.90.
U.S. West Texas Intermediate crude futures jumped $6.22, or 11.34%, to $61.07 per barrel.

Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field, pulling down 5.7 million barrels of daily crude production or nearly 50 per cent of the kingdom's oil output.

According to reports Saudi Aramco, the national oil company, reportedly aims to restore about a third of its crude output, or 2 million barrels by Monday.
In India, this may reflect in retail prices, as petrol and diesel prices are linked to international prices and any rally in international prices leads to an increase in petrol and diesel prices in India.

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