A drilling crew member works at an oil rig in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk Region, Russia, on March 11, 2019. (File photo: Reuters)
Oil retreated from the highest since 2014 after Russia said some troops are starting to return to their permanent bases after completing drills.
Brent futures fell as much as 3.5% while prices in New York also declined. Crude has swung wildly this week amid a flurry of reports about the tensions over Ukraine. While the United States had earlier warned an invasion may be imminent, Russian Foreign Minister Sergei Lavrov said on Tuesday that diplomatic efforts would succeed in easing the situation. Moscow has repeatedly denied it plans to attack.
Still, North Atlantic Treaty Organisation (Nato) Secretary General Jens Stoltenberg said it…
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.