New Record
India's crude oil basket rises to all-time high of $157.04/bbl
This story was originally published at 15:42 IST on 24 March 2026
Register to read our real-time news.Informist, Tuesday, Mar. 24, 2026
--India's crude oil basket at all-time high of $157.04/barrel Monday
MUMBAI – The price of India's crude oil basket rose to an all-time high of $157.04 per barrel Monday amid increased global crude oil prices because of the continuing military conflict in West Asia and the consequent loss of supply from the region following the closure of the Strait of Hormuz.
The Indian crude oil basket is a derived basket comprising average prices of the sour grade Dubai and Oman crude and the sweet grade Brent crude oil, according to the Petroleum Planning and Analysis Cell.
At 1517 IST, the May Brent crude oil futures contract on the Intercontinental Exchange was 2.4% higher at $102.33 per barrel. Crude oil prices witnessed one of their most volatile days Monday, with Brent prices closing below the $100 per-barrel mark for the first time since Mar. 11. This came after US President Donald Trump said the US and Iran had "very good and productive" conversations and that he had postponed military strikes against Iranian power infrastructure for five days.
However, prices rose again above $100 per barrel after the speaker of Iran's parliament posted on social media that no talks had been held with the US, contradicting Trump's claim. "Prices have since recovered further, climbing towards $103 this morning, amid reports that Saudi Arabia and the UAE (United Arab Emirates) have taken steps toward joining the conflict, raising the risk of escalation," analysts at ING Economics said in a report. End
US$1 = INR 93.86
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
Share this Story:
