Commodities Live: Oil Trades Around $120 A Barrel As Saudi Arabia Raises Prices

Crude reached a high of 3 months. Brent reached near $ 121, WTI crude reached near $ 120. Crude on MCX crossed Rs 9,300. Crude prices jumped about 18% in a month. Saudi Arabia hikes crude oil prices for Asia. The price for Asia increased by $2.10/barrel. Saudi Arabia increased the price more than expected. The market expected the price to increase by $ 1.5 / barrel. US kept prices stable for the second consecutive month. Despite OPEC+ decision to increase production, there was a rise in demand. Crude has also increased due to decrease in demand and supply in the market.