Oil Tops $105 for First Time Since 2014 as Russia Attacks Ukraine - Update

Analysts believe that oil prices will likely to remain above $100 until significant alternative supplies become available from OPEC, U.S. shale or Iran, for example. Story updated from previous verison.

Bozorgmehr Sharafedin, Reuters

Oil prices jumped on Feb. 24, with Brent rising above $105/bbl for the first time since 2014, after Russia’s attack on Ukraine exacerbated concerns about disruptions to global energy supply.

Russia launched an all-out invasion of Ukraine by land, air and sea in the biggest attack by one state against another in Europe since World War Two.

The U.S. and Europe have promised the toughest sanctions on Russia in response.

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