NEW DELHI: After staying above $100 per barrel for two weeks, international oil prices fell to $99.84 on Tuesday, easing margin pressure on fuel retailers who have been holding petrol and diesel prices despite a spike in the cost of raw material.
\nBrent crude oil prices, which soared past $100 per barrel on February 28 and touched a 14-year high of $139 per barrel on March 7, fell over 7 per cent on Tuesday.
\nThe market was rattled by a resurgence of virus cases in China, which may impact demand in the world’s biggest crude importer, and signs of progress in cease-fire talks between Ukraine and Russia.
\nInternational oil prices, which shot up since Russia invaded Ukraine, have swung about $40 per barrel in little more than a week.
\nFor India, the fall in oil prices is good news as it will lower the import bill of the world’s third-biggest oil importer.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: After staying above $100 per barrel for two weeks, international oil prices fell to $99.84 on Tuesday, easing margin pressure on fuel retailers who have been holding petrol and diesel prices despite a spike in the cost of raw material. Brent crude oil prices, which soared past $100 per barrel on February 28 and touched a 14-year high of $139 per barrel on March 7, fell over 7 per cent on Tuesday. The market was rattled by a resurgence of virus cases in China, which may impact demand in the world’s biggest crude importer, and signs of progress […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-476079","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/476079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=476079"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/476079\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=476079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=476079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=476079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}