Oil hits high after drone attack in Abu Dhabi..?

Sowmiya Sriram
Oil hits high after drone attack in Abu Dhabi..?

The price of crude oil has reached so high after 7 years in UAE. This created fear among people that it may lead to further increase in petrol and diesel prices. The recent Drone attack caused three fuel tanker trucks to explode in the Musaffah area, near the warehouse of an oil company in Abu Dhabi.

 This caused the fire to break out at a construction site at Abu Dhabi international Airport. The Houthi organization in yemen has claimed responsibility for the attack, which was carried out by drones.
This impact is expected to have a great impact on crude oil supplies. It is at this point that crude oil prices are at their peak. There are also fears that it would affect India. As the chaos in Abu Dhabi continues, fears have been raised that it could have a further impact on prices.

In the indian market, the price of crude oil increased by 89 rupees giving us 6350 rupees a barrel. It ended at Rs 6261 in the last session and started at Rs 6298 today. It has been on the rise for the past few weeks in a row. As tension prevails between the Houthis and Saudi officials which is likely to be escalated. This causes a further increase in crude oil prices to increase. 
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