Opec output cut fears keep global prices up

Domestic/Energy

 Moreover, the continuing terrorism in West Asia and the threat of a possible oil workers' strike in Nigeria also affected the sentiment.

 However, the domestic consumer of petrol and diesel need not have any cause for concern with the assembly elections in four states due on December 1.

 It is highly unlikely that the government will allow oil marketing companies to increase the prices of the two automobile fuels at this juncture.

 The international benchmark Brent (dated) crude, which was hovering at $ 29.74 a barrel on November 19, moved down to $ 29.38 a barrel on November 21, and dropped further to $ 28.36 a barrel on November 26.

 Jet fuel (Singapore), which was being quoted at $ 37.63 a barrel on November 19, moved down to $ 36.98 a barrel on November 21, and touched $ 35.83 a barrel on November 26.

 Prices of gas oil (Singapore) with 0.5 per cent sulphur, which were ruling at $ 35.18 a barrel on November 19, touched $ 34.60 a barrel on November 21, and moved down to $ 33.45 a barrel on November 26.

 Naphtha (Singapore), which was being quoted at $ 34.08 a barrel on November 19, touched $ 33.33 a barrel on November 21, and moved down to $ 31.53 a barrel on November 26.

 Prices of unleaded petrol (fob Singapore), which were ruling at $ 35.18 a barrel on November 19, softened to $ 35.08 a barrel on November 21, and further moved down to $ 33.53 a barrel on November 26.