Crude Oil Prices Breach $100 Mark, Commodities Surge As Russia Faces Sanctions From US, EU

Team Latestly Feb 25, 2022 04:14 PM IST

On February 24, oil breached $100 a barrel for the first time since 2014, reported Reuters. This comes as Russia attacked Ukraine after President Vladimir Putin announced a military operation. Brent crude hit a high of $101.34 a barrel in early Asia trade, the loftiest since 2014, and was at $101.20 a barrel at 0423 GMT, up $4.36, or 4.5%, reported Reuters. Reportedly, Russia is the world's second-largest oil producer & it mainly sells crude to European refineries. It is the largest supplier of natural gas to Europe, providing about 35% of its supply. Watch the video to know more.

(The above story first appeared on LatestLY on Feb 25, 2022 04:14 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).

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crude oil crude oil prices Crude Oil Prices High Russia-Ukraine Conflict Russia-Ukraine Crisis On Prices Of Crude Oil Russia-Ukraine Impact On Crude Price Russia-Ukraine tensions Russia's Attack On Ukraine

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