The price of a barrel of oil exceeded 100 dollars this morning for the first time in more than seven years, following Russian President Vladimir Putin announced a “military operation” in Ukraine. Oil prices rose above $100 a barrel on Thursday for the first time in more than seven years, following Russian President Vladimir Putin announced a “military operation” in Ukraine.
Brent crude rose as high as $100.04 following the announcement as fears of a full-scale conflict in Eastern Europe escalated.
Vladimir Putin announced a military operation in Ukraine on Thursday in a surprise statement on television shortly before 4 a.m. Explosions were heard in several cities including the capital Kiev, Kharkiv, the country’s second city, Kramatorsk, Dnieper, Donetsk, but also the port cities of Mariupol and Odessa, suggesting a large-scale and perfectly coordinated attack. US President Joe Biden has denounced Russia’s “unwarranted attack” on Ukraine.
France denounced Russia’s “contempt” for the United Nations, as the Security Council was meeting when hostilities broke out.
