Commodities
India's Petrol and Diesel Prices Unchanged Despite Global Oil Market Volatility
Petrol and diesel prices in India remained unchanged on August 14, despite Brent crude, the international oil benchmark, falling by 2.2% in the previous session.
The current fuel rates are still aligned with the last major price revision implemented by state-run fuel retailers nearly three months ago, on May 25.
According to a Bloomberg report, traders continue to monitor efforts toward a possible deal that could reopen the Strait of Hormuz, while fresh attacks on tankers and energy infrastructure keep the market on edge.
Brent was trading near $87 a barrel, while West Texas Intermediate stood at around $81. Iran and Oman have yet to reach an agreement to reopen the critical waterway, after optimism earlier this week that a deal was close.