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Energy and Power
Energy and Power
The unfortunate Russia–Ukraine war, entering the second week when this write up was prepared, has already caused crude oil prices in the global market to reach US$120 /Bbl. Analysts predict that in no time it would burst through US$150 even $200 if the USA-led Western allies impose a ban on Russian gas and oil. Till now the Western leaders were reluctant, but major buyers and refiners reportedly were already in a short of “self-sanctioning” mode. Analysts predict that not even the Iranian supply can replace it if Russian oil is lost even temporarily from the global market. Bangladesh relies ex…