HONG KONG: Oil prices soared past $100 for the first time in more than seven years on Thursday after Russian President Vladimir Putin announced a “military operation” in Ukraine, apparently realising fears he would invade.
Brent surged to $100.04 a barrel after the announcement, as concerns grew about a full-scale conflict in eastern Europe. WTI hit $95.54.
It came after Putin made a surprise statement on television to declare his intentions.
“I have made the decision of a military operation,” he said shortly before 6:00am in Moscow as he vowed retaliation against anyone who interfered.
