Crude prices slipped to a five-month low touching $101.87 per barrel but recovered thanks to mixed signals from oil cartel OPEC.
Oil prices see the big fall again. The prices tumbled more than $3 a barrel.
http://www.ibnlive.com/news/oil-prices-at-their-lowest-in-two-months/69384-7.html
Prices rose after OPEC said it won't raise its output before the next meeting in Sep.
http://www.ibnlive.com/news/crude-oil-soars-to-record-high-of-129-a-barrel/65664-7.html
However, OPEC maintains there's no shortage of fuel in the market.
http://www.ibnlive.com/news/crude-shock-124-a-barrel-and-counting/64890-7.html
While crude oil prices have been softening but the price at which India buys its crude oil has been rising.
http://www.ibnlive.com/news/ril-to-suspend-operations-in-900-petrol-pumps/61926-7.html
The worry is that the OPEC may reduce output to support prices in a $85 to $100 a barrel range.
http://www.ibnlive.com/news/oil-prices-spike-on-opec-speculation/59406-7.html
The Government on Monday rejected a demand from its Left allies to cut the prices of petroleum products.
http://www.ibnlive.com/news/no-cut-in-petro-prices-says-govt/26131-7.html
Deora ruled out a cut in retail prices of petrol and diesel unless global crude prices dip to $52 per barrel.
http://www.ibnlive.com/news/fuel-price-cut-unlikely-for-now-deora/25655-7.html
Union Petroleum Minister Murli Deora hinted at the possibility petrolium prices declining in the coming weeks.
http://www.ibnlive.com/news/petro-prices-may-decline-deora/22293-7.html
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