Prices got a lift from an industry report showing that U.S. crude stocks fell by about 2.68 million barrels in the week ended April 14, according to market sources citing American Petroleum Institute figures on Tuesday.
At the same time, the RBI remains watchful of risks from geopolitics, crude oil prices and global monetary policy developments.
The Jackson Hole symposium is just around the corner, bringing together central bank chiefs to tackle the pressing issue of global inflation amidst soaring oil
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