India, Aug. 28 -- Crude oil increased on Thursday amid the heightening Russia-Ukraine conflict despite the US efforts to broker a peace deal, a drop in US crude inventories and with traders monitoring India's response to US sanctions.
WTI Crude oil for October delivery was last seen trading up by $0.42 (or 0.65%) at $64.57 per barrel.
With the upcoming US Labor Day weekend deemed to be the unofficial end of the summer driving season, traders are predicting the beginning of low gas demand in the US.
On the geopolitical front, the diplomatic efforts by US President Donald Trump to bring the three-year-plus Russia-Ukraine war to an end have so for been unproductive.
Russia has pushed back on the idea that a summit between the presidents of...