Mumbai, Feb. 27 -- Oil hovered below $69 per barrel, pressured by higher supply prospects and weak demand. Hopes for a Russia-Ukraine peace deal fueled expectations of eased Russian sanctions, adding to bearish sentiment. A stronger dollar, with the index at 106.6, added pressure. MCX March oil futures held steady at Rs 6003 per barrel, with oil heading for its biggest monthly drop since September. Trump's draft minerals deal with Ukraine and new tariffs on China raised economic concerns. He also plans to revoke Chevron's Venezuela oil license, while Iraq reached a deal with Kurdistan to resume exports without a set timeline.
Published by HT Digital Content Services with permission from Capital Market....