This was lower than the price of USD 53.63 per bbl on previous publishing day of September 8. In rupee terms, the price of Indian Basket decreased to Rs 3,368.39 per bbl on September 11 as compared to Rs 3,424.94 per bbl on September 8.
The rupee closed weaker at Rs 63.89 per USD on September 11 as compared to Rs 63.87 per USD on September 8.
Oil prices rose on Monday as key US refineries began following Hurricane Harvey, which may help revive crude oil processing, while fuel prices fell as Hurricane Irma is likely to clip demand for gasoline and diesel.
The possibility of an extension to the 15-month production pact between members of the Organization of the Petroleum Exporting Countries and non-OPEC producers also helped to support prices.
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