Crude oil price falls by over 2%, set for quarterly loss

NEW DELHI : With China’s economic outlook remaining weak, crude oil rates fell by over 2% today. Oil is now headed for its worst quarter since late last year as fears over the global economy and fuel demand overshadowed this month’s unprecedented attack on Saudi Arabia’s energy facilities.

Brent crude oil futures were trading at $60.30 per barrel, down 2.6%. On the Multi Commodity Exchange in India, crude for delivery in October traded at ₹3,916, down ₹18 or 0.46% in late afternoon.

After being stable for the last three days in India, petrol and diesel rates started to increase today once again — by 7-8 paise per litre.