Oil prices jump as Russia launches attack on Ukraine

Oil well pump jacks operated by Chevron Corp. in San Ardo, California, US, on Tuesday, April 27, 2021.

David Paul Morris | Bloomberg | Getty Images

Oil prices leaped by 3% on Thursday after Russia announced it would launch a military action in Ukraine and reports surfaced of explosions in Kyiv.

International benchmark Brent crude futures jumped 3.03% to trade at $ 99.77 per barrel. US crude futures shot up by 3.52% to trade at $ 95.38 per barrel.

Natural gas jumped 2.33%.

Explosions were heard in Ukraine’s capital of Kyiv, NBC News reported.

This is breaking news. Please check back for updates.

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