Brent crude futures climbed USD 2.28 or 2.89 per cent to USD 81.30 a barrel by 1316 GMT, while US crude futures were at USD 77.30 a barrel, up USD 2.47 or 3.3 per cent
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The last revision on 1 June saw a decrease in the windfall tax on crude oil from Rs 5,700 to Rs 5,200 per tonne
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After recording an exceptionally high GRM in FY23 at an average of USD 16-USD 18 / bbl, the GRM of Indian Refiners moderated to an average of USD 10 - USD 12/bbl in FY24 which was largely in line with CareEdge Ratings expectations
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