The surge is seen in crude oil price is because the US said that it's open to imposing sanctions on Russian oil and gas flow.

There are delivery issues, payment issues and supply concerns in the global market. So much higher sights for crude from here on is what the street is talking about and the next target is about USD 121-125-127 per barrel on the charts.

Also Read: India’s GDP likely to be at 8-8.5% but crude price could play havoc: Jahangir Aziz

However, it's not just crude, a huge run-up is seen in metal prices. Nickel hitting a new 10-year high. Aluminium is trading at an all-time high. Coal prices trading at all-time highs of USD 400 per tonne. So everywhere, commodities as a tangible asset class seem to be running up.

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First Published:Mar 3, 2022 8:36 AM IST