Oil prices are on track to decline for the third-consecutive week as concerns over global economic growth outweigh supply fears caused by the crisis in Ukraine. The international crude benchmark Brent is down 4% in the last seven days, and is now trading around $106 a barrel.

Crude prices have already given up most of the gains made since the start of Russia's attack on its neighbour.

We had David Madden, market analyst for Equiti Capital in London. He said that despite demand concerns, prices are likely to stay at higher levels in the medium to long term.

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