Crude oil prices surged 5 percent overnight after falling almost 11 percent in the previous two sessions. With COVID-19 cases in China on a decline, European Union still working on an embargo on Russian oil and Russia itself sanctioning 31 companies in countries that have imposed sanctions on Russia, a premium building is seen in crude oil prices.
Also Read: Weak dollar, low Treasury yields push gold prices higher
It is slightly off after yesterday’s gain, but still on the higher side of the range.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.
Catch the latest stock market updates with CNBCTV18.com’s blog