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Ukraine, a major conduit for Russian oil exports to Western Europe, is monitored closely by investors who are concerned that a full-scale armed conflict will disrupt supplies and send prices skyrocketing. The situation has shown no improvement. Ukrainian forces killed five pro-Russia separatists on 24th April as Russia conducted army drills near the border. Crude oil moved up 4.51% to Rs6,255/barrel on 23 April 2014, from Rs5,985/barrel on 1 April 2014. Chinese crude imports fell for a second month in March due to a build-up of inventories.

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