Brent oil prices surge to $100 a barrel for first time in 8 years as Ukraine crisis escalates2 min read . Updated: 24 Feb 2022, 09:14 AM IST
- Escalation of the Ukraine crisis sparked fears of a disruption to the Russia's oil exports
Brent oil surged to $100 a barrel for the first time since 2014 as Russia’s dramatic escalation of the Ukraine crisis sparked fears of a disruption to the region’s critical energy exports. Russia is the world's second-largest oil producer, which mainly sells crude to European refineries, and is the largest supplier of natural gas to Europe, providing about 35% of its supply.
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