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New sanctions target Russian crude shipments to China and India.
Higher supply outlook offsets demand growth expectations
Geopolitics drive oil price gains.
Geopolitics drive oil price gains.
Geopolitical Tensions Fuel Market Concerns as Russia Warns of Broader Conflict
Brent futures were up 49 cents, or 0.6% , to $72.38 a barrel.
The world's biggest oil importer also released inflation data over the weekend.
Oil prices drop as Hurricane Rafael threat diminishes.
As per Emkay Global Financial Services, the Brent is currently trading at $74 per barrel.
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