03
Mar
The benchmark Brent crude soared above $112 per barrel as fighting intensified in Ukraine. The decision by the International Energy Agency to release crude from its reserves also failed to dampen prices. Higher energy prices could worsen the inflation that is already threatened the economies everywhere and created concern among the central banks. After the state elections are over in India, state-owned oil retailers are prepared to raise the fuel prices. As per the Petroleum Planning and Analysis Cell of the oil ministry, the Indian basket of crude rose above $102 per barrel compared with $81.5 per barrel when the…
