$300 A Barrel, "Catastrophic Consequences" If Russian Oil Banned: Moscow

Tuesday, 8 March 2022newsdesk

Oil prices see-sawed on Tuesday even as Ukraine peace talks made little headway, torn between the prospect of a ban on Russian oil imports and Russia's warning crude costs could rise to $300 a barrel.

New Delhi, 08 March 2022

As per news report of NDTV, After the third attempt by Russia and Ukraine at talks in Belarus, a Ukrainian negotiator said although little progress on agreeing with logistics for the evacuation of civilians had been made, things remained essentially unchanged. Benchmark Brent crude oil, which briefly hit more than $139 a barrel in the previous session, jumped around in morning trade on Tuesday and was up nearly 1 per cent at about $124 per barrel. U.S. crude was up about 0.4 per cent at $119.86 a barrel. At the same time, prices of other commodities, including nickel, rose as industrial buyers and traders scrambled with the Russian-Ukraine conflict showing no signs of cooling.

Source - NDTV