Brent crude futures, the most traded, closed up $0.13 at $82.45 a barrel and the US WTI futures contract was down $0.06 at $77.77 a barrel on Tuesday. As Thursday is the Thanksgiving Day holiday in the United States, trading on Wednesday generally sees low volume (number of trades). This has also impacted crude oil derivative contracts.
At the same time, the meeting of OPEC Plus (OPEC+), a group of crude oil producing countries, which will be held on November 26, is crucial for the commodity market. Investors are looking forward to whether the meeting will accept a resolution to extend the current production cuts into next year. Eight leading market analysts, meanwhile, have suggested that production restraints will remain in place till 2024.
Petrol and Diesel Rates
No change was reported in petrol and diesel prices in the country on Wednesday. Petrol price in Delhi city remains unchanged at Rs 96.72 per liter and diesel at Rs 89.62. In Mumbai, petrol price remains at Rs 106.31 and diesel at Rs 94.27. Similarly, in Kolkata, the price of a liter of petrol remains unchanged at Rs 106.03 and diesel at Rs 92.76. Petrol price in Chennai city remains at Rs 102.63 and diesel at Rs 94.24.
Similarly, petrol and diesel prices in Kerala have not seen any change today. Petrol price in Thiruvananthapuram remains unchanged at Rs 109.73 and diesel at Rs 98.53. Petrol price in Kochi city remains Rs 107.78 and diesel price remains Rs 96.70. In Kozhikode district, the price of one liter of petrol remains unchanged at Rs 108.28 and diesel at Rs 97.20.