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Oil prices can hit $125 a barrel if Russia-Ukraine crisis worsens: Analysts

Though analysts believe diplomatic efforts will continue leading to a stabilisation and an eventual easing of these tensions, it may take several months for this to happen

oil, crude, petrol, gas
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In 2020, European OECD nations took in 48 per cent of Russia’s crude and condensate shipments and 72 per cent of its natural gas exports

Puneet Wadhwa New Delhi
The brewing tensions between Russia and Nato over Ukraine have cast a shadow on how key commodities, especially crude oil, have played out over the past few days. Brent oil prices have already crossed the $90 per barrel mark – up 14 per cent in a month. And if the standoff worsens and translates into a war, analysts expect oil prices to hit $125 a barrel – up around 40 per cent from the current levels – as we head deeper into 2022.
“War will