Crude Oil Price: Will the price of crude oil go to $120, check petrol and diesel prices on Tuesday

Business Desk – Crude Oil Price: Once again an upward trend is being seen in the prices of crude oil. On Tuesday, April 28, the price of WTI crude oil reached $97.011 per barrel, while Brent crude reached $108.638 per barrel.

The speed at which crude oil prices are increasing. The tense situation in the Middle East shows no signs of improvement. Looking at that this question arises. Will oil prices reach $120?

Iran’s steps to end the conflict

Iran has submitted a proposal to the United States that aims to end the conflict. This proposal mainly calls for an immediate cessation of hostilities, removal of the blockade currently imposed by American troops, and postponing nuclear talks until a later stage of negotiations.

Additionally, Iran’s Deputy Foreign Minister, Seyed Abbas Araqchi met Russian President Vladimir Putin on Monday. The United States is currently reviewing Iran’s proposal.

Pakistan resumes mediation efforts

After the failure of the first round of peace talks held in Islamabad, Pakistan, a second round of meetings was scheduled. However, this meeting could not take place. As a result, Pakistani mediators have now said that differences between Iran and the United States will soon be resolved through dialogue.

What do analysts say?

Regarding tensions in West Asia, analysts suggest that if this instability persists for a long time, it could impact not only crude oil prices but also the costs of plastics and various other products. Brent crude oil is currently trading at a premium to WTI. If the restrictions remain in place, oil prices could see a huge surge, as supply shortages are usually the main reason for such price increases.

Petrol and diesel prices in your city today

According to Good Returns, the price of one liter petrol in Delhi has increased to Rs 94.77. Similarly, the price of one liter diesel has reached Rs 87.67. In Mumbai, the price of petrol has reached Rs 103.54 per liter.

The rate of diesel has reached Rs 90.03 per liter. The price of one liter petrol in Kolkata has increased to Rs 105.41. Similarly, the rate of one liter diesel has reached Rs 92.02.

In Chennai, the price of petrol has reached Rs 100.80 per liter. The rate of diesel has reached Rs 92.39 per liter.

In Gurugram, the price of petrol has reached Rs 95.51 per liter. The rate of diesel has reached Rs 87.98 per liter.

In Noida, the price of petrol has reached Rs 94.77 per liter. The rate of diesel has reached Rs 87.89 per liter.