India's crude oil basket up 14 cents

The country's crude oil basket rose 14 cents a barrel to $64.20 (Rs 2,674) on Friday in line with a marginal increase in global prices, data from the petroleum and natural gas ministry showed today. The Indian basket comprises Oman-Dubai sour grade crude and Brent dated sweet crude in 58:42 ratio.

Brent crude Friday closed at $65.90 a barrel, down 16 cents from a day earlier. Dubai benchmark, however, settled 33 cents higher at $62.73 a barrel, while Oman benchmark closed at $63.38 a barrel, up 28 cents, the data showed. May crude oil contract on the New York Mercantile Exchange, that expired Friday, also closed higher by $1 at $63.38 a barrel on concerns that violence in Nigeria may disrupt supplies.

In March, the Indian basket averaged $60.26 a barrel, compared with $56.53 in February and $52.53 in January.

In the financial year ended March, the basket price averaged $62.46 compared with $55.72 in the previous year.