Oil prices hovered near their highest levels since 2008 on Tuesday, with Brent near $121 a barrel, as unrest in the Middle East and North Africa supported prices and on

Oil prices rose above $100 a barrel Wednesday in Asia as a report showed US crude and gasoline supplies unexpectedly dropped last week, suggesting demand may be improving.

Benchmark crude

The cost of a barrel of Brent North Sea crude for delivery in April reached $119. 79 on Thursday because of troubles in the Middle East and North Africa before

Global crude oil price has rallied to $ 90 per barrel and have crossed 27-months high of $ 92.58 per barrel last Monday.

Government today said oil subsidy bill will go up this year if global crude oil prices rise above the current levels of USD 90 a barrel but asserted fiscal deficit

The recent spurt in global crude prices may not translate into higher net profits for country’s largest oil explorer ONGC.

An empowered group of ministers (eGoM) headed by finance minister Pranab Mukherjee will decide on deregulating diesel prices for retail consumers ahead of the proposed follow-on-public offers (FPOs) of ONGC

Crude oil has declined 5. 50 per cent on a year-to-date basis since the beginning of this calendar year