Crude Oil Price Today
Track live crude oil prices for Brent and WTI benchmarks. See MCX crude oil futures, historical price charts, and oil market trends. Crude oil is the most traded commodity globally and a key macro indicator for the Indian economy and stock market.
Frequently Asked Questions
What is the difference between Brent and WTI crude oil?
Brent crude is the international benchmark sourced primarily from the North Sea, while WTI (West Texas Intermediate) is the US benchmark. Brent is used to price about two-thirds of global crude oil trades and is more relevant for Indian oil imports. WTI tends to trade at a slight discount to Brent due to transportation and storage dynamics. India primarily imports Brent-linked crude, so Brent prices have a more direct impact on domestic fuel costs.
How do crude oil prices affect the Indian stock market?
India imports over 80% of its crude oil needs, so rising oil prices increase the import bill, weaken the rupee, and push up inflation. This negatively affects oil marketing companies, airlines, and paint companies, while benefiting upstream explorers like ONGC. Falling oil prices have the opposite effect and are generally positive for the Indian economy and markets. Crude oil is one of the most closely watched macro indicators for Indian equities.