Oil prices jumped as the Ukraine crisis escalated. Russian President Vladimir Putin ordered forces into two breakaway regions of eastern Ukraine.
Rising tensions have sent jitters through markets, driving oil prices higher. On Friday, U.S. President Joe Biden said theLoading chart...
Russia has built up some 150,000 troops along its border with Ukraine, and the Biden administration said last week that as many as 7,000 additional troops have joined. The military tensions have sparked concerns that Russia may be preparing to invade Ukraine, triggering fears of a repeat of the Kremlin's illegal annexation and occupation of Crimea in 2014.
Crude prices recently crossed $90 per barrel, representing an increase of more than 20% this year and a rally of more than 80% since the beginning of 2021. Those gains, however, can also be attributed to other factors such as tight supply.
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