Global oil prices rose to above $100 a barrel on Thursday after Russia launched an invasion of Ukraine, hitting triple digits for the first time since 2014.
Energy prices were already relatively high before this crisis, as production has not kept pace with surging demand from a global economy that is recovering from the pandemic.
Russia’s missile strikes on cities across Ukraine, including the capital of Kyiv, have raised those prices even further, which is bound to reinforce fears about inflation.
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