Oil at nearly 14-year high, sensex sheds 1.5k points, Rupee breaches 77/$

Global crude oil prices soared to a 13-year high on Monday as talk of the US and its European allies exploring a ban on Russian oil and tightening the sanctions on Moscow for its invasion of Ukraine sent shockwaves across financial markets around the world, posing a major risk to economies, including India. Brent crude, a major import for India’s energy needs, surged to $139 a barrel – the highest since July 2008.

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