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New Delhi: Due to the deepening of geopolitical tensions in West Asia once again, there has been a big jump in the prices of crude oil in the international market. During early trading on Monday, crude oil prices rose by more than 2 percent and crossed the $ 90 per barrel mark. The main reason for this increase is believed to be the attack by America on Iran’s Larak Island located in the Strait of Hormuz. In response to this action, Iran also took an aggressive stance and launched attacks targeting US military bases located in Jordan, which has increased concerns about global energy supply.

Crude oil prices surged

Global benchmark Brent crude was seen trading at $90.41 per barrel with a gain of 2.62 per cent or $2.31. At the same time, an increase of 2.37 percent i.e. $ 1.98 was recorded in American West Texas Intermediate (WTI) crude and it increased to $ 85.38 per barrel.
This surge has come at a time when crude oil prices had fallen by more than 4 percent last week, which was its first weekly decline in the last three weeks.

venezuela deal

Amidst the turmoil in crude oil, US President Donald Trump has shared an important information. He said that the oil obtained under the recent agreement with Venezuela will be used to refill America’s Strategic Petroleum Reserve (SPR). In fact, US emergency oil reserves are currently near their lowest level in the last 44 years. It is noteworthy that Venezuela is considered to be the country with the largest proven oil reserves in the world.

Petrol and diesel prices in India

Despite the turmoil in the international market, its direct impact has not been seen in the Indian fuel market at present. Petrol and diesel prices remain stable across the country. In the national capital Delhi, petrol is being sold at the rate of Rs 102.12 per liter and diesel at Rs 95.20 per liter. It is noteworthy that the last change in fuel prices in the country was made in May 2026 and new rates are released daily at 6 am.

Talking about other major cities, petrol in Mumbai is Rs 111.18 and diesel is Rs 97.83 per liter. In Kolkata, these rates are Rs 113.47 and Rs 99.82 respectively, while in Chennai petrol remains at Rs 107.77 and diesel at Rs 99.55 per litre. Apart from this, petrol is available at Rs 102.77 per liter in Gurugram, Rs 102.12 in Noida, Rs 110.93 in Bengaluru, Rs 115.69 in Hyderabad and Rs 112.66 per liter in Jaipur.