Economy

Oil prices surge, rupee Falls

oil prices surge, Rupee falls

Saturday top 10 drones striking to coil production facilities in the kingdom of Saudi Arabia Abqaiq and Khurais to biggest oil fields of Saudi Arabia attack into centres of Saudi oil infrastructure

Rupee fail to rupees 70 1.42 to $1 compare two 70.9 to Saudi Arabia is the second largest supplier of crude to India after UAE

Oil prices by as much as 19% the biggest intraday search since 1991 Gulf War has Saudi Arabia had to cut 5% of its supply

$10 rice in per barrel price worsens India’s trade deficit by around 1.5 billion dollars a month and raised consumer price inflation by 0.3% higher trade deficit also puts further pressure on the Rupee

Saudi Arabia has millions of barrels of oil stored around which can be released to fill for The Lost amount of production

The shortfall could be made up of us and other countries release their strategic reserves

The hoti Rebels of Yemen have claimed responsibility for the attack get the US has expressed its suspicion that Iran could be directly behind this attack

For the oil market this is the single biggest destruction surfacing Saddam Husain invasion of Kuwait in August 1991 and Iranian revolution of 1979

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