
OPEC says India should use the cheap crude bought last year to cut prices for consumers

On a year-to-date basis, the price of Brent crude has increased to $66.13 per barrel from $51.80 per barrel on December 31 last year.

Many state governments like that of Rajasthan, West Bengal, Assam and Meghalaya have reduced VAT

India being the third-biggest oil consumer, has urged major oil exporters to ease the supply situation

Benchmark equity indices are likely to remain volatile in the forthcoming week as traders roll over positions in the F&O segment from the near month J

Fresh tensions in the middle east and expectation of increase in demand of crude oil are also currently providing support to the crude oil prices.

Macroeconomic data, the movement of rupee against the dollar and crude oil prices will dictate trend on the bourses in the near term.