Allied Energy Corp (AGYP)

[BCNstocks]

Oil has surged to its highest price since 2014 after Russia ordered troops into two breakaway regions in eastern Ukraine, adding to supply concerns that are pushing prices to near $100 a barrel.

West Texas Intermediate (WTI) crude, the US benchmark, jumped by more than 3 percent and touched a seven-year high on Tuesday as it peaked at $96.

'We see the oil market in a period of frothiness and nervousness, spiced up by geopolitical fears and emotions,' said Julius Baer analyst Norbert Rucker.

'Given the prevailing mood, oil prices may very likely climb into the triple digits in the near term.'

The US, UK and European allies are poised to announce new sanctions against Russia after President Vladimir Putin formally recognized the two regions in eastern Ukraine - Donetsk and Luhansk - escalating a security crisis on the continent.

https://www.dailymail.co.uk/news/article-10538345/Oil-prices-surge-100-barrel-Putin-ordered-troops-Ukraine.html