
Oil prices break $100 on Russian 'military operation' in Ukraine
The Hindu
Crucially, oil has soared in recent weeks and on Thursday world benchmark Brent finally broke the $100 mark last seen in September 2014
Oil prices soared past $100 for the first time in more than seven years on Thursday after Russian President Vladimir Putin announced a "military operation" in Ukraine, apparently realising fears 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.
It came after Mr. Putin made a surprise statement on television to declare his intentions.
"I have made the decision of a military operation," he said shortly before 6:00 am (0300 GMT) in Moscow as he vowed retaliation against anyone who interfered.
He also called on the Ukrainian military to lay down its arms.
His statement came after the Kremlin said rebel leaders in eastern Ukraine had asked Moscow for military help against Kyiv.
U.S. officials had warned of an imminent incursion by Russia after the Kremlin this week recognised two breakaway regions in Ukraine and said it would provide "peacekeepers".