Crude oil futures traded higher on Monday morning following concerns over the supply due to the developments in Libya and Russia. At the time of filing this report, June Brent oil futures were at $112.82, up by 1 per cent; and June crude oil futures on WTI were at $107.40, up by 0.96 per cent. Kalantri said the news of proposed ban on Russian oil by the EU has lifted crude oil prices again in the international markets. As a result, natural gas prices crossed $7 per btu last week and also supported crude oil prices. Crude oil is having support at $103.20-$101.50 and resistance is at $109.80–112.50, In rupee terms crude oil has support at ₹7,980-7,760, while resistance is at ₹8,210–8,350,” Kalantri said.

Source: Libya Today April 18, 2022 05:15 UTC