Oil prices decline around 3% even as US bans Russian oil imports

Oil prices today declined around three percent even as the United States banned Russian oil imports. Goldman Sachs analysts said that the factor of the ban on Russian oil had already been priced in a day before, that is the reason crude prices did not rise further.  Global crude oil prices today hit 130 dollars per barrel level in intra-day trade as western sanctions have cut Russia off from global trade and financial markets in response to its military operation in Ukraine. Brent crude was trad...