This is an entry from: LIVE: UN overwhelmingly votes to condemn Russian invasion of Ukraine, demands withdrawal
Oil tops $100 for first time since 2014 as Russia attacks Ukraine
24 February 2022 09:48 GMT
Oil prices surged on Thursday, with Brent breaching $100 a barrel for the first time since 2014, after Russia attacked Ukraine, exacerbating concerns that a war in Europe could disrupt global energy supplies.
Russia is the world's second-largest oil producer, mainly selling its crude to European refineries, and is the largest provider of natural gas to Europe, providing about 35 percent of its supply.
Brent crude rose to as much as $103.78 a barrel, the highest since 14 August 2014, and was at $103.18 a barrel at 08:30 GMT, up $6.34, or 6.5 percent.