Brent oil surged to $100 a barrel for the first time since 2014 as Russia’s dramatic escalation of the Ukraine crisis sparked fears of a disruption to the region’s critical energy exports.
The Brent futures is up by 2.77% to $99.52 per barrel while WTI is up by 2.99% to 94.85 per barrel.
Stock plunge seeing greater selloff signaling investors lost risk appetite after Russian state-run television Tass reported Putin decided to conduct a special operation to “protect” the Donbas region and that Russia doesn’t plan to occupy Ukraine. Ukraine declared a state of emergency amid intensifying fears of a full-scale Russian invasion.
U.N. Security Council holds emergency meeting on Ukraine crisis.
