₹8,260 per bbl, having swung from ₹8,018 per bbl, in the morning against a previous close of ₹6,252 per bbl on Friday. The drop in oil prices last week was primarily sparked by a significant increase in US crude inventories and production remaining at historic highs.
Additionally, apprehensions arose due to indications of weakening demand in China. An additional element fueling pessimism was the rise in the number of Americans submitting new claims for unemployment benefits, coupled with a minor downturn in industrial production statistics.Milestone Alert!
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