Crude seems in consolidate trend or may be for down side. On last trading crude almost down by 0.30%.
Finance Minister Pranab Mukherjee today said the increasing oil prices in the world crude market and the resultant rise in the quantum of government subsidy was causing immense problems for the Indian economy.
A day after meeting his Iranian counterpart, Mukherjee also pointed out that India's import of oil from the sanction-hit country, has reduced substantially, in the backdrop of US's objections that India had failed to reduce its purchases from Tehran.
The Finance Minister was addressing a press conference at the end of his Washington visit to attend the annual Spring meeting of the International Monetary Fund (IMF) and the World Bank.
Mukherjee met his Iranian counterpart Shamseddin Hosseini yesterday on the sidelines of the IMF and World Bank meetings but details of the meeting were not immediately available.
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