Crude Oil Prices Surge Again..

Goldman Sachs has projected that crude oil prices may rise further in the fourth quarter. The investment bank estimated that Brent crude could touch 90 dollars while WTI crude may reach 83 dollars. The firm cited possible decline in oil production in West Asia and rising prices of refined petroleum products as major reasons behind the expected increase.

Meanwhile, crude oil prices witnessed a sharp rise in the international market. Brent crude climbed by 2 percent to 107.49 dollars, marking its highest level since April. West Texas Intermediate crude also increased to 96.17 dollars. At the same time, domestic stock markets opened in gains, with Sensex and Nifty trading higher during early market hours, while the rupee weakened against the dollar.