Today, Independence Day is being celebrated with great pomp across the country. Meanwhile, there is bad news regarding oil prices. Crude oil prices have once again gone up and oil marketing companies have also released the rates of petrol and diesel. Despite this, today Saturday is a relief. There has been no change in the rates of petrol and diesel. Without any change, the price of Ethanol Free XP100 Premium Petrol in Delhi today is Rs 167.35. Whereas, the price of normal petrol is Rs 102.12 per litre. Here the price of diesel is Rs 95.20 per liter and the rate of XP95 petrol is Rs 109.24 per liter.
crude oil prices
Oil prices have increased by about 6 percent this week. brent crude It closed above $88 per barrel on Friday. The main reason for the rise in oil prices is America’s warning of strict action against Iran. US Finance Secretary Scott Besant has made it clear that such economic pressure will be imposed on Iran that the world has never seen. More announcements in this regard will be made in the coming weeks.
naval blockade of hormuz
The US will continue its naval blockade of Iranian ports. The move is part of a strategy to force Iran to reopen this vital energy route. The Strait of Hormuz handles about 20 percent of the world’s oil trade, so this crisis is very important for global energy supply.
Six months of war and its impact on oil production
Oil prices have already increased by more than 40 percent this year. The production and exports of the major OPEC countries of the Persian Gulf have been badly affected due to the war. Although these countries have found alternative ways to transport their crude oil to global markets, there is still a shortage in supply.
Will American pressure work?
It is not clear whether US economic pressure will be able to force Iran to capitulate. Iran has faced several waves of sanctions and financial crises in the past and has not reached agreement on its nuclear program. At the same time, it has not lost its influence on Hormuz.
attacks on abu dhabi
Abu Dhabi National Oil Co., one of the most successful companies in exporting oil from the Persian Gulf, said two more of its ships were attacked late at night. However, the company says that the situation has been brought under control.
