Brent oil surged past $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.
Futures in London jumped as much as 3.3% after a report that President Vladimir Putin has decided to conduct a special operation to ¡°protect¡± the Donbas region before falling back below the key threshold. Putin announced this week he¡¯d send ¡°peacekeeping forces¡± into the two separatist regions recognized by Moscow, heightening fears among western governments of a full-blown invasion of Ukraine.
Russia is a key supplier of energy to global customers, with Europe relying on the nation for about a quarter of its oil supplies and a third of its gas.
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