Oil prices surged Friday following Ukraine’s drone attacks on Russia’s energy infrastructure, significantly cutting fuel exports. Russia responded by implementing a partial diesel export ban. US pressure on allies like India and Turkey to reduce Russian imports, alongside NATO warnings and robust US economic growth, further bolstered prices.
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Following an eight-week losing streak in the Nifty, its first such run since 2001, domestic brokerage PL Capital remains cautious on the near-term market outlook.