Oil Prices Soar Above $100 for First Time Since 2014

Published February 24th, 2022 - 07:10 GMT
Oil Prices Soar Above $100 for First Time Since 2014
US crude jumped 3.3% to $95.15 a barrel. (Shutterstock)

Brent crude oil soared past $100 a barrel on Thursday for the first time since 2014 after Russian President Vladimir Putin announcement of a "military operation" in Ukraine.

Brent crude, the world benchmark, hit $100.4 a barrel for the first time in more than seven years. US crude jumped 3.3% to $95.15 a barrel.

It's worth noting that oil supplies are already very tight, and analysts are predicting that prices will go even higher if oil flows from Russia were disrupted. 


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