Oil Prices Top $100 as Russia Invades Ukraine

LE FONTI TV 2/24/22
February 24, 2022
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Oil Prices Top $100 as Russia Invades Ukraine

Both of the main crude-oil benchmarks top $100-a-barrel for the first time since 2014 after Russia’s attack on Ukraine, with Brent climbing as high as $105.79, while WTI crude has risen as high as $100.54. “The invasion of Russia into the Ukraine is leaning heavily on the global markets … oil is skyrocketing,” says Peter Cardillo at Spartan Capital. “Markets will need to adjust to the consequences of rising commodity prices, thus creating a near panic selling situation.” For oil markets, the key question is how the West will respond to Russia. Brent trades 8.5% higher at $105.03 while WTI crude is up 8% at $99.44.