Crude oil prices rallied on Wednesday taking cognizance of the escalation in geopolitical tensions between Ukraine and Russia and the likelihood of disruption in supply of oil from Russia. The higher-than-expected build in crude oil inventories in the U.S. however limited gains.
Crude oil prices had recorded minor gains on Tuesday and a massive spike on Monday in the aftermath of a production outage in Norway's Johan Sverdrup oilfield.
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