Oil prices are at seven-month low; falls by nearly 9% in last eight trading sessions
Updated: 09 Sep 2022, 11:36 AM IST
TL;DR.Russia’s threat to cut energy flows to countries that support a price cap on its crude. Last week, the G7 economies agreed to impose a price cap on Russian oil to hamper Russia's ability to finance its war in Ukraine.
Food and energy price increases drove up inflation in the Eurozone to 9.1 percent in August, up from 8.9 percent in July.