Russia has attacked Ukraine. The war has broken out. Soon after this news, crude oil has also come to a boil. The price of Brent Crude has crossed $ 100 per barrel. At the same time, gold has gone beyond $ 1930 at a 13-month high in the global market. Russian President Vladimir Putin has announced a military operation in Ukraine. After this, on Thursday, oil prices exceeded $ 100 per barrel for the first time in 7 years.
Russia-Ukraine war will increase problems
Actually, Russia is the second largest oil producing country in the world, which mainly sells crude oil to European refineries. In addition, it is the largest supplier of natural gas to Europe, supplying about 35% of its supply. In such a situation, the fear of disruption in energy exports in these areas has increased due to the declaration of war.