LIVE: Oil Prices Hit Four-Month High | Los Angeles Wildfire | Vantage with Palki Sharma | N18G

LIVE: Oil Prices Hit Four-Month High | Los Angeles Wildfire | Vantage with Palki Sharma | N18G

Oil prices are on the rise once again. This week, they reached a four-month high as the US intensified its efforts to target Russian crude. The goal is to undermine Russia’s oil industry and cut down its global supply. These actions have triggered a surge in the oil market. Now, for a country like India, this is a big deal because India imports nearly 90% of its crude oil. So, whenever oil prices rise, it hits India almost immediately. Brent crude, the global benchmark for oil prices, crossed $82 per barrel this week. To put it into context, one barrel holds 159 liters of oil, meaning 159 liters now cost $82. Brent crude was last trading at these levels in August last year. So, what’s causing this spike? It’s the American sanctions. Last week, the US sanctioned 183 tankers that were part of a "shadow fleet". These tankers weren’t directly linked to Russia but were still supplying Russian oil. The sanctions have made things worse for countries like India. By February, Russian oil supplies could drop to less than 800,000 barrels per day. For comparison, India imported over 1 million barrels in December. This is especially concerning because Russia is one of India’s main suppliers. In November, it was the largest supplier of crude to India. Now, with supplies shrinking, India will have to look for alternatives to meet its oil needs. On Vantage tonight, Palki Sharma delves into the full story.

---

Oil | Prices | Russia | Russian Oil | USA | Brent Crude | India | Vladimir Putin | Oil Supply | Oil Price Hike | Oil Price in India | Crude Oil | Firstpost | World News | News Live | Vantage | Palki Sharma | News

#oil #prices #russia #russianoil #usa #brentcrude #india #vladimirputin #oilsupply #oilprpricehike #crudeoil #firstpost #vantageonfirstpost #palkisharma #worldnews

Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
​
Subscribe to Firstpost channel and press the bell icon to get notified when we go live.
https://www.youtube.com/@Firstpost

Follow Firstpost on Instagram:
https://www.instagram.com/firstpost/

Follow Firstpost on Facebook:
https://www.facebook.com/firstpostin/

Follow Firstpost on Twitter:
https://twitter.com/firstpost

Follow Firstpost on WhatsApp:
https://www.whatsapp.com/chann....el/0029Va6zOIrEQIams

n18_live_dl