04 Mar
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Oil prices rose to $119.84 per barrel–the highest since 2012–on Thursday before giving up a few dollars per barrel. US crude stockpile’s decline to multi-year lows also aided the rise of oil, which has gained nearly $20 per barrel in a week since Russia sent its troops into Ukraine.
The percentage of fund managers who believe stagflation will set in within the next 12 months stood at 30%, compared with 22% last month, a survey from BoFA Global Research showed.
In the international market, gold was trading higher at USD 1,932 an ounce and silver was flat at USD 25.40 an ounce.