Brent oil prices jumped more than five percent Tuesday as traders fretted over fallout from Russia's ongoing invasion of Ukraine. Read more: Zelenskyy says Russian shelling of Kharkiv a 'war crime' European benchmark Brent North Sea crude leapt 5.3 per cent to stand at $103.22 per barrel, approaching more than seven year highs of above $105 hit last week.
In view of rising crude oil demand in the country, the government said it has been taking up the issue bilaterally with crude oil-producing countries, OPEC and with heads of other international fora to convey India's serious concerns over crude oil price volatility and its strong preference for responsible and reasonable pricing for consumer countries. India's oil demand is
Oil prices climbed on Tuesday, extending a rebound from last week's plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant. Brent crude futures climbed 43 cents, or 0.6 per cent, to $73.91 a barrel at 0418GMT after gaining 1 per cent on Monday. US West Texas
US crude prices dropped in early trade on Monday extending big losses on Friday, after Japan said on the weekend it was considering releasing oil reserves to help dampen prices. At the same time, demand concerns are growing as Covid-19 cases surge in Europe. US West Texas Intermediate (WTI) crude futures were down 65 cents, or 0.9%, at $75.25 a barrel at 2327 GMT, after