💨 Abstract

Oil prices slightly increased on Monday due to intensified fighting between Russia and Ukraine, but were hindered by concerns over fuel demand in China and a projected global oil surplus. The conflict escalated with the U.S. allowing Ukraine to use American-made weapons to strike into Russia. However, the impact on Russian oil exports has been minimal so far. China's refinery throughput and factory output growth decreased, further dampening demand.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖