Crude oil prices rallied from the levels at close on Friday as markets digested the impact of wider U.S. sanctions on Russian oil. Market's expectation that the existing consumers of Russian oil would be forced to source supplies from the Middle East or other producers also boosted prices.
The surge in the prices of the black liquid is despite the resurgence in the Dollar that has lifted the six-currency Dollar Index to a multi-month high of 110.18.
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