International crude oil prices have hit a 14-year high at USD 130 a barrel on March 7, up from USD 94 a barrel before the invasion of Ukraine by Russia, which is the world's third-largest oil producer, supplying 14 per cent of global production. The price of the Indian crude oil basket has averaged USD 114.6 a barrel so far in March, a steep 22.9 per cent surge from USD 93.3 a barrel in February.from News-Economic Times https://ift.tt/Zh7N5av
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