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Mar ' 22 Crude Oil Report

War situation between Russia and Ukraine and sanctions on Russia took crude to very high prices of $139.13 (Brent) before a reversal is seen now. The rise in prices had been seen despite lower levels on US Crude inventory. We need to be cautious and see if tensions resolve and pull down prices lower or if the prices manage to sustain at higher levels in the coming months. Some long term important factors are laid out in the March 2022 report.
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