Oil prices are surging for a second day following Russia's decision to cut gas supplies to Europe. That's because if Europe runs short on gas, companies in the bloc could choose to start using crude products like diesel to keep their machines running. The European Union has already banned some oil imports from Russia, which is the world's second-largest exporter of the commodity.

For the energy conflict, we were joined by Naeem Aslam, who is the chief market analyst at AvaTrade in London.

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