Energy Preview: WTI Crude Hits $109 In Asia

2 Mar 2022 , 08:53 AM

Crude oil futures are on a boil as Russia intensified its attack on Ukraine and more curbs were announced at the global scale against the invading nation. WTI Crude oil broke above $100 per barrel to approach highest level in nearly eight years. The counter soared by around a double digit mark yesterday and soared further by 5.50% today to hit $109 per barrel level even as equities fell. MCX Crude oil futures ended at Rs 7887 per barrel, up around 8% on the day after approaching near Rs 8100 per barrel mark. Oil market also eyed reducing Covid-19 worries as Covid-related hospitalizations in the United States fell below the 50,000 mark after three months. Hospital admissions have reduced by 44 percent within a fortnight.

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