💨 Abstract

Oil prices rose on Monday due to a halt in production at Norway's Johan Sverdrup oilfield and escalating tensions between Russia and Ukraine. The outage may tighten the North Sea crude market, and the Biden administration's decision to allow Ukraine to use U.S.-made weapons to strike deep into Russia could further escalate tensions, potentially impacting oil prices. Russia's largest air strike on Ukraine in three months also contributed to the price increase.

Courtesy: theprint.in