The Ukraine-Russia conflict has further increased the price of oil in the international market.
Investors are worried about a possible war, which has led to a recession and a rise in inflation. According to the details, the price of Brent oil in the world market is close to $100 while the price of WTI has become $92.35 cents per barrel.
International stock exchanges also saw declines in the wake of the Russia-Ukraine conflict, which included the United States, Britain, and other countries.
Earlier, Russian President Vladimir Putin announced the termination of the Minsk ceasefire agreement with Ukraine in 2014, which escalated tensions.
Read more: PM to leave for a two-day visit to Russia today
Russian President Vladimir Putin said he had signed an order recognizing the two separatist regions of eastern Ukraine as independent states.
At the request of Ukraine, an emergency meeting of the UN Security Council was convened. The United States has said Russia is looking for excuses for war.
