Oil rises above $100 after Russia attacks Ukraine | Reuters
Oil prices jumped on Thursday, with Brent rising above $100 a barrel for the first time since 2014, after Russia attacked Ukraine exacerbating concerns about disruptionsto global energy supply.
Russia launched an all-out invasion of Ukraine by land, air and sea, the biggest attack by one state against another in Europe since World War Two. read more
Brent crude rose $7.07, or 7.3%, to $103.91 a barrel at 0944 GMT, and U.S. West Texas Intermediate (WTI) crude jumped $6.43, or 7%, to $98.53 a barrel.
Brent and WTI hit their highest levels since August and July 2014, respectively.
"Russia is the third largest oil producer, and second largest oil exporter. Given low inventories and dwindling spare capacity, the oil market cannot afford large supply disruptions," UBS analyst Giovanni Staunovo said.
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