Ukraine Conflict: Gold Up; Oil breaches $100; Cryptos sinking; Rouble suspended

Arab News says Oil breached $100 a barrel for the first time since 2014 on Feb. 24 and gold is up, while cyrptocurrencies —Bitcion and Ether — are sinking.

Ukraine Conflict: Gold Up; Oil breaches $100; Cryptos sinking; Rouble suspended

Arab News says Oil breached $100 a barrel for the first time since 2014 on Feb. 24 and gold is up, while cyrptocurrencies —Bitcion and Ether — are sinking as Russia moved troops into Ukraine, sparking concerns that a war in Europe could disrupt global energy supplies.

Russia has launched a full-scale invasion of Ukraine and is targeting cities with weapons strikes, Foreign Minister Dmytro Kuleba said in a tweet.

Brent crude hit a high of $101.34 a barrel in early Asia trade, the loftiest since September 2014, and was at $101.20 a barrel at 0423 GMT, up $4.36, or 4.5 percent.

US West Texas Intermediate crude futures jumped $4.22, or 4.6 percent, to $96.32 a barrel, after rising to as much as $96.51, also the highest since August 2014.

https://www.arabnews.com/node/2030856/business-economy

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