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Crude Oil Becomes Cheaper Below 96 Dollar Per Barrel – Crude Oil

Expansion

Crude oil prices fell on Friday amid fears of a slowdown in demand due to concerns over a slowdown across the globe. For the first two days it was fast. Brent crude futures fell 0.7 per cent to $95.91 a barrel. WTI crude was down 0.8 per cent at $89.81 barrel. Prices of both fell by over 2 per cent during the week.

Bond interest rates rise

Government bond interest rates rose for the second day in a row. It has reached 7.26 percent. It had gained 0.06 per cent on Thursday. However, this is the fifth consecutive week that interest rates have remained low. Actually, this is happening due to the concern of inflation. The interest rate on the new 10-year bond has become more than expected. RBI has sold new bonds worth Rs 130 billion at 7.26 per cent interest, as against the estimate of 7.23 per cent.

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