Commodities round-up: Crude prices close to all-time high
Crude oil prices are trading at a decade high. They have almost touched USD 140 per barrel and come back. So markets are making higher highs there. JP Morgan says that in this year, crude prices may soar to USD 185 per barrel.
The risk of US and allies ban on Russia oil and gas, delay in Iran nuclear deal talks and reports that North Atlantic Treaty Organization (NATO) members have now the go-ahead to send fighter jets to Ukraine does not sound good. There has been reaction seen coming across commodities markets.
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Crude oil prices are trading at a decade high. They have almost touched USD 140 per barrel and come back. So markets are making higher highs there. There are important statements from Bank of America (BoA) saying that loss of Russian 5 million barrels per day crude leads to USD 200 per barrel coming in a jiffy.
JP Morgan also says that in this year, crude prices may soar to USD 185 per barrel.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.
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First Published: Mar 7, 2022 8:33 AM IST
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