INSUBCONTINENT EXCLUSIVE:
Globally, the oil surged to close to 3.5-year peaks on simmering Mideast tensions
Petrol price in Delhi soared to Rs 74.07 on Thursday
From Monday onwards, the petrol price has been hovering past Rs 74 a litre
The petrol prices on Monday had touched a high of Rs 74.02, a level that was sustained on Tuesday and Wednesday
The petrol price was higher than this level over four and a half years ago, i.e
on September 14, 2013, when the price had surged past Rs 76
The petrol is available in Kolkata, Mumbai and Chennai at Rs 76.77, Rs 81.92 and Rs 76.84, respectively, on Thursday.Diesel prices also
touched a high of Rs 65.27 in New Delhi on Thursday
For the past few days, the diesel prices have been hovering past Rs 65
close to 3.5-year peaks on simmering Mideast tensions and keen US demand.World oil prices extended Wednesday's gains on the back of data
showing a drop in US stockpiles -- indicating improved demand -- and expectations that a Russia-OPEC output cap deal will be kept in
place.The market was also propelled after OPEC (Organisation of Petroleum Exporting Countries) kingpin Saudi Arabia reportedly stated it
wanted crude prices to top $80 per barrel as it prepares for a gigantic listing of part of its state oil company.Tensions in the oil-rich
Middle East also kept prices elevated."Saudi Arabia still calls the shots on global oil markets, and it is increasingly obvious the Saudis
are comfortable with oil at USD 80 or more," said Interactive Investor analyst Lee Wild.With Reuters inputs
