Brent crude oil crosses $ 50 for the first time in 6 months

Brent crude oil crosses $ 50 for the first time in 6 months

Brent crude oil live prices upped 0.5 per cent to $ 50 across. Crude oil stocks have down more than anticipated, causing an increase in crude oil is looking. Brent crude oil prices in the first 6 months have crosses 50 dollars. Earlier in November, the price of Brent crude oil was 48.28 dollars a barrel.

Why the Brent crude oil is up in commodity market?

• A down in crude oil inventories in the US is supported prices.
• According to data released by the US EIA US crude oil inventories in the week ended May 20 down by 4.2 million barrels.
• Crude oil production at the OPEC meeting in June also expected to limit the pushed up crude oil live prices.

Brent Crude oil is up 82% from a low price

Crude oil had touched a low in January of commodity market. January 20 Brant crude oil had reached a level of 27.10. While Rs 2.20 increase in petrol price since January 20. But if crude oil crossed the $ 60 per barrel of petrol and diesel prices by Rs 3 to 4 and is likely to increase.