New Delhi: The cost of oil for Indian refiners fell to $94.5 per barrel on Thursday, its lowest level in two months, amid hopes of a resolution to the US-Iran conflict and an exemption for commercial ships transiting the Strait of Hormuz. The Indian basket fell 20.4% in a week, from $118.7 on Oct 30. After hovering around $90 a barrel in the last week of Aug, the crude basket price started rising from Sept 1 and touched a peak of $130.2 before moderating, but remained around $120 a barrel through Sept and Oct, amid continued hostilities in West Asia.
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Vikrant Kharwar is the Founder and Editor of News Us Media. He writes about trending news, sports, entertainment, technology, and viral stories. His goal is to make news simple, informative, and easy to understand for readers across the United States and around the world.
