NEW DELHI :Oil prices rose on Wednesday as a reported drop in U.S. crude inventories increased concerns about tight global supplies amid the hit to Russian exports from economic sanctions.
The market remains on edge over the prospect of further sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine, actions that Moscow calls a"special operation". Hari added that there may be some relief for the market if the EU drops the idea of a ban on Russian oil imports.
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