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Ukraine crisis: Oil and gold turn costlier amid sanctions on Russia

Brent crude rose $ 2.79, or 2.85 per cent, to $100.72 by 9.12 pm IST after touching a high of $105.07 a barrel in early trade

Photo: Andrey Rudakov/Bloomberg
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Photo: Andrey Rudakov/Bloomberg

Agencies
Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports.
 
Brent crude rose $ 2.79, or 2.85 per cent, to $100.72 by 9.12 pm IST after touching a high of $105.07 a barrel in early trade. The Brent contract for April delivery expires on Monday. The most active contract, for May delivery, was up $3.14 at $97.26.
 
US West Texas Intermediate (WTI) crude was up $ 4.01, or 4.38 per cent, at $95.60 after hitting $99.10

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First Published: Feb 28 2022 | 11:22 PM IST

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