Affected by the Russia-Ukraine rising tension, oil prices are trading today at seven-year highs with Brent crude close to $100 a barrel.
The global benchmark has soared 3.8% to $99.04 a barrel, the highest since September 2014, while US light crude is 5.2% higher at $95.81 a barrel.
Experts are projecting that oil could hit the $100 benchmark and push towards $120 a barrel. The last time Brent was at (and above) $100 a barrel was in early September 2014.
It's worth noting the OPEC+ are still determined on restricting the oil output for the time being.
Natural gas prices also witnessed a rise, soaring 7% despite assurances from the Russian president that Russia will continue to deliver uninterrupted natural gas supplies to world markets.
