Oil prices dip as Russia-Ukraine conflict intensifies
Oil prices slipped this Friday as hopes for a Russia-Ukraine peace deal faded.
Brent crude futures dropped to $67.56 and WTI to $63.45, with similar dips seen on Indian exchanges.
The ongoing tensions are making global markets nervous, and energy prices are feeling the impact.
Indian refiners eye discounted Russian crude again
The conflict is heating up, with Russian airstrikes near the EU border and Ukraine hitting back at a Russian refinery.
Analysts say chances for peace talks look slim, so tougher sanctions could be coming. The US is even planning new tariffs on India for buying Russian oil, which might shake up trade routes.
Meanwhile, Indian refiners are eyeing discounted Russian crude as attractive discounts have Indian refiners showing increased interest once again.
Other commodities like natural gas and spices also took a hit this week.