Oil Prices Surge as Ukraine Russa Tensions Climb
over 3 years in Mckoys News
Oil and gas prices climbed on Tuesday on fears the Ukraine-Russia crisis will disrupt supplies across the world. The price of Brent crude oil, an international benchmark, touched a seven-year high of more than $99 (£73) a barrel after President Vladimir Putin ordered troops into Ukraine’s east. But prices later moderated, despite Western countries responding with economic sanctions and moves to block a key Russian gas pipeline. Shares also stemmed from early losses. After falling more than 1.5% in early trade on Tuesday, Wall Street turned up following remarks by US President Joe Biden outlining the US response. The Dow closed…