Oil spikes back above $100 as Russia fears grow
CNN
Oil prices surged Thursday back above $100 a barrel on renewed concerns about the war in Ukraine disrupting Russia's energy supplies.
After sinking below $94 a barrel earlier this week, US crude soared 8% to $102.65 a barrel in afternoon trading. Brent crude spiked 9% to $107 a barrel.
The swift rebound in oil prices will be watched closely by leaders in Washington and on Wall Street because high energy prices threaten to exacerbate inflation and slow the economy.
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