Indian crude oil basket falls below $43 per barrel

As global crude oil prices plumetted to fresh six-year lows , the Indian basket also fell to $42.97 per barrel from $45.21 on the trading day before, as per official data released on Tuesday.

The Indian basket-comprising 73 per cent sour-grade Dubai and Oman crudes, and the balance in sweet-grade Brent-fell to its lowest since December 2008 when the prices averaged $40.61 for the month, as per data with the government-run Petroleum Planning and Analysis Cell.

The Indian crude oil data comes with a lag of one day.

Two key benchmarks, Brent and Western Texas Intermediate (WTI), were trading lower in the Asian markets at $43.13 per barrel and $38.67 per barrel, respectively, as per mid-session reports of Tuesday.