Lagatar24 Desk
New Delhi, Feb 24: Oil surpassed $100 a barrel for the first time on Thursday since 2014, as Russia sent troops into Ukraine, raising fears that a European conflict could disrupt global energy supply.
According to Foreign Minister Dmytro Kuleba, Russia has initiated a full-scale invasion of Ukraine and is targeting cities with weapons strikes.
Brent crude touched a high of $101.34 a barrel in early Asia trade, the most since September 2014, and was up $4.36, or 4.5 percent, at $101.20 a barrel at 0423 GMT.
WTI crude futures in the United States rose $4.22, or 4.6 percent, to $96.32 a barrel, after reaching a high of $96.51, which was also the most since August 2014.
Notably, Russia is the world’s second-largest oil producer, which mainly sells crude to European refineries, and is the largest supplier of natural gas to Europe, providing about 35% of its supply.
