Brent Oil Falls Over 1% To Below $112 In A Volatile Trading Session
NDTV
The ebb and flow in investors' sentiment on global crude's demand-supply dynamics pushed futures down over 1 per cent on Tuesday.
The ebb and flow in investors' sentiment on global crude's demand-supply dynamics pushed futures down over 1 per cent on Tuesday; with the Russia-Ukraine war intensifying, supply concerns limited losses.
The international benchmark, Brent crude, fell 1.2 per cent to $111.75 a barrel after rising more than $1 to $114.21 earlier in the session. US crude was down 1.5% at $106.57 a barrel after rising to $108.92 earlier.
Both the contracts had gained over 1 per cent on Monday, and oil prices hit their highest since March 28.
But demand for oil likely eased because of the surge in the greenback, which rose to a fresh two-year high. Indeed, the dollar index breached the 101 mark on Tuesday.
