Oil tops US$100 a barrel

Oil prices surged yesterday, with Brent breaching US$100 a barrel for the first time since 2014, after Russia attacked Ukraine, exacerbating concerns that a war in Europe could disrupt global energy supplies. After President Vladimir Putin authorised what he called a special military operation, Ukraine's Foreign Minister Dmytro Kuleba said in a tweet that Russia had launched a full-scale invasion of Ukraine and was targeting cities with weapons strikes. Ukraine said that Russia was moving military equipment into the country from Crimea and facing non-stop cyber-attacks. It reported one death so far. Russia is the world's second-largest oil producer, mainly selling its crude to European refineries, and is the largest provider of natural gas to Europe, providing about 35% of its supply.