Oil prices jump 10% as Russia launches attack on Ukraine; Brent hits $100 for first time since 2014

Russia’s invasion of Ukraine is expected to have far-reaching implications for energy markets given Moscow’s role

as the world’s second-largest producer of natural gas and one of the world’s largest oil-producing nations.

Brent crude futures rose more than 8.1% to trade at $104.69 a barrel during afternoon trade in London.

U.S. West Texas Intermediate futures, meanwhile, climbed over 7.7% to trade at $99.15.

Oil prices on Thursday jumped following Russia’s invasion of Ukraine

Oil prices have jumped more than $20 a barrel since the start of the year amid escalating Russia-Ukraine tensions.

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