Brent Oil Reached Above $100 A Barrel

Brent oil reached above $100 a barrel on February 24. Today, Brent oil is priced at $100 a barrel in global markets.

Brent oil surpassed $100 per barrel for the first time since 2014, after Russian President Vladimir Putin's decision on a special military operation in Donbas, eastern Ukraine. The barrel of Brent oil, which gained more than 3 percent in value, reached the level of 100 dollars for the first time since 2014. West Texas Intermediate (WTI) crude oil also gained more than 3 percent to test $95.5 a barrel. Russian President Vladimir Putin announced that they have launched a special military operation in Donbas in eastern Ukraine. After Russian President Vladimir Putin announced that they had launched a military operation, it was reported that explosions were heard in various cities of Ukraine, including the capital Kiev. The start of the military operation raised concerns that the energy supply in the region would be interrupted. On the other hand, the tension between Russia and Ukraine also supported the rise in gold prices. The ounce price of gold, which is considered a "safe haven" by investors, increased by nearly 2 percent to $1,944.