Oil prices jump, stock prices sink as Russia edges toward Ukraine
Oil prices surged nearly 5% and stock prices dropped after Russian President Vladimir Putin ordered forces into separatist regions of eastern Ukraine, bringing a long-feared invasion a step closer.
Russia is a major energy producer and the tensions over Ukraine have brought wide swings in volatile energy prices, on top of the inevitable risks of a broader conflict.
Oil prices already had surged recently to their highest level since 2014. By early Tuesday, US benchmark crude oil had advanced 4.9% to $94.64 per barrel in electronic trading on the New York Mercantile Exchange.
