Oil and gas prices have witnessed a huge surge overnight. The crude oil prices are back above USD 120 per barrel and in this week itself, the prices are up by nearly 13 percent.
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Regina Mayor, Global Head of Energy at KPMG in an interview to CNBC-TV18 said that crude oil prices are being driven by a perfect storm of bullish fundamentals. She expects crude prices to stay above USD 100 per barrel until Russia-Ukraine ceasefire.
She said higher crude prices may lead to acceleration in renewables. According to Mayor alternative sources of energy would lead the way in next decade.
Watch video for more.
