LONDON (Reuters) – International crude oil prices fell sharply this week to close at $ 100 a barrel. Brent crude is trading at $ 106 a barrel. Although oil shortages continue to be exacerbated by Western sanctions on Russia, oil prices have remained stagnant due to fears of a drop in market demand due to the new Kovid wave in China and elsewhere. India, which is not part of the embargo, buys oil from Russia at relatively low prices.
