News Snapshot:
Global crude oil prices have risen substantially in the past 30 days, inching toward the $90 a barrel mark and igniting concerns of higher inflation in both international and domestic markets. On January 20, Brent crude oil was trading at $86.95 a barrel in the international market. Oil prices have moved up by around 30 per cent since the end of November on stronger-than-expected demand despite the third wave of the pandemic, and supply outages that have tightened the market. This has led to buyers in Asia paying sharply higher premiums for spot cargoes. Goldman Sachs Group has predicted that...
