1642400348_ji3qRf_panoramic_shot_oil_rigs_sea_with_beautiful_sunset.jpg 
Oil has soared in recent weeks and on Thursday world benchmark Brent finally broke the $100 mark last seen in September 2014
Photo Credit : Sun photo created by wirestock - www.freepik.com
For the first time in more than seven years, oil prices inched past $100 on Thursday after Russian President Vladimir Putin announced an "operation" in Ukraine, apparently realising fears that he would invade. Brent surged to $100.04 a barrel after the announcement, as concerns grew about a full-scale conflict in eastern Europe. WTI hit $95.54.
Putin's surprise appearance on television to announce his intentions. "I have made the decision to intervene militarily," he told the Russian media shortly before 6:00 am (0300 GMT). The Russian leader vowed retaliation against anyone who interfered.
He also called on the Ukrainian military to lay down its arms.
He made this statement after the Kremlin said rebel leaders in eastern Ukraine were seeking military assistance from Moscow.
Following the Kremlin's recognition of two breakaway regions in Ukraine this week, officials in the US had warned of a potential Russian incursion.
Oil has soared in recent weeks and on Thursday world benchmark Brent finally broke the $100 mark last seen in September 2014.
The crisis comes as governments struggle to contain runaway inflation fuelled by demand as life returns after recent lockdowns, with many fearing the fragile global economic recovery could be knocked off course.
(With Inputs From AFP)