Oil Prices Surge Amid Russian Assault on Ukraine

Crude oil prices topped $100 a barrel for the first time since 2014 as Russia’s pre-dawn assault on Ukraine roiled markets.

As the world weighed the human toll, watching on screens as black plumes of smoke rose from Ukrainian cities, analysts that track commodities were still broadly playing down the prospect of an all-out land war.

“Oil could jump by another $10 a barrel as the conflict intensifies, but an agreement could be reached after a series of operations,” said Will Sungchil Yun, senior commodities analyst at VI Investment Corp. in Seoul.