Russia Warns Of $300 A Barrel, But Oil Prices See-Saw Near 2008 Highs: Report
NDTV
Oil prices see-sawed on Tuesday, torn between the prospect of a ban on Russian oil imports and Russia's warning of crude costs rising to $300.
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.
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.
