Relative to other instruments in the energy commodity asset class, crude oil ranked 4th since yesterday in terms of percentage price change.
We made sure the burden should be borne by the govt to cushion the people.
Without the crude oil from the niger delta nigeria would have been a very poor country like chad.
Out of the 6 instruments in the energy commodity asset class, crude oil ended up ranking 4th for the day in terms of price change relative to the day prior.
Relative to other instruments in the energy commodity asset class, crude oil ranked 3rd since the previous day in terms of percentage price change.
Nd modi is purchasing crude oil at 18.30 rs per litre and selling petrol at 79 and diesel at 80.
Strong demand from independent refineries are likely to slow on a combination of storage facilities filling up with cheap crude oil, the recent rally in brent crude oil back above $40/b and not least the prospect for fuel demand, following the latest outbreak in beijing, being exposed to a second wave of lockdowns….
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
We travelled a lot, now petrol tax is a big revenue generator for modi regime.