Oil prices soar after Russia’s Putin launch military action against Ukraine
Oil prices surged by nearly $6 per barrel Thursday after President Vladimir Putin launched Russian military action in Ukraine.
Brent crude oil jumped to over $100 per barrel on unease about possible disruption of Russian supplies. The price of US benchmark crude briefly surpassed $98 per barrel.
The ruble sank 7.5% to more than $87 to the US dollar.
The future for Germany’s benchmark DAX index lost 5.3% and London’s FTSE 100 was off 3.3% as Europe awakened to news of explosions in Kyiv, Kharkiv and other areas of Ukraine.
Putin said Russia’s military operation was needed to protect civilians in eastern Ukraine, a claim Washington had predicted he would make to justify an invasion.
