Oil Prices Change Slightly; Check Latest Petrol, Diesel Price In Various Indian Cities Here

Oil prices hovered near their fourth consecutive week of decline as they remained mostly flat in early Asian trade after falling almost 5% to a four-month-low on Thursday on concerns over global demand following weak data from the US and Asia.

According to Reuters, at 0232 GMT, Brent futures were up 0.1%, at $77.52 per barrel, while US West Texas Intermediate crude (WTI) was almost unchanged at $72.95.

Both, OPEC and the International Energy Agency (IEA) have forecasted supply tightness in the fourth quarter, however some key economic data from around the world this week indicated that the demand was bleaker than estimated.

This week's decline in oil prices was mainly triggered by a stark increase in US crude inventories and production sustaining at record levels. This according to analysts triggered concerns about weak demand in the world's largest oil consumer amidst high production.

On Thursday, Brent futures closed 4.6% lower to $77.42 per barrel. US WTI declined 4.9% to $72.90.

The US Labor Department said on Thursday that claims for state unemployment benefits rose 13000 to a seasonally adjusted 231000 for the week ended November 11. Meanwhile, industrial production declined 0.6% month-on-month in October, with manufacturing output down 0.7%.

The recent US data forced investors to pile into Treasuries.

Oil prices, India:

The US on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the Group of Seven's price cap, according to a Reuters report. These included three oil tankers that regularly shipped Russian Sokol crude to India in recent months.

The development comes as Washington seeks to close loopholes in a bid to punish Russia for its war in Ukraine.

Check New Updates Petrol and diesel In Your City Today

Petrol and diesel price was revised across major cities in India on Friday.

In the national capital Delhi, the price of one litre of petrol and diesel is Rs 96.72 and Rs. 89.62 respectively.

One litre of Petrol in Bangalore is retailing at Rs 101.94, while the same quantity of diesel is selling at Rs 87.89 in the city.

In Noida, 1 litre of petrol costs Rs 96.59, while the price of the same quantity of diesel is Rs 89.76. One litre of Diesel in Gurgaon retails at Rs 89.84, while the cost of one litre of Petrol in the city is Rs 96.97.

In Chennai, 1 litre of Petrol is retailing at Rs 102.74, while the same quantity of diesel is selling at Rs 94.33 in the city.