India's crude oil basket on Friday stood at $94.41 (around Rs 3,708) a barrel, easing 21 cents from the all-time high of $94.62 it scaled on January 3, a petroleum and natural gas ministry release said on Monday. | |
| Crude oil prices that, had rallied to a record level of $100.09 a barrel on Thursday, dipped subsequently due to profit booking. |
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| Crude oil prices are also down because cold temperatures in the US northeast that had earlier boosted oil prices, are likely to turn mild in the coming days, thereby adversely impacting demand for heating oil. |
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| The Indian basket so far in January has averaged $93.77 a barrel as against $87.92 a barrel in December and $89.11 in November. India's crude oil basket comprises Oman-Dubai sour (high sulphur) grade crude and Brent dated sweet (low sulphur) crude in the ratio of 59.8:40.2. |
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| Dubai crude on Friday rose 57 cents to $92.60 a barrel, while Oman crude closed at $93.10 a barrel, up 58 cents from the previous close. |
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