Crude oil prices stayed volatile in Q1FY21. Brent crude oil prices fell up to ~US$17/bbl while WTI oil prices traded in the negative for the first time in April. With demand increasing following a resumption of economic activities & Opec output cuts, Brent oil prices recovered in May, June. Average Brent crude oil prices remained lower at US$31.4/bbl, a decline of US$19.2/bbl QoQ. In Q2FY21E, oil prices are in range of US$45/bbl. Going ahead, we model net realisation of US$39.4/bbl for FY21E, US$48.5/bbl for FY22E at Brent oil prices of US$41/bbl, US$ 50/bbl, respectively, taking into account...