Home Industry Energy Brent oil hits $100 a barrel for the first time since 2014 Russia is a key supplier of energy to global customers by Bloomberg February 24, 2022 Brent oil surged to $100 a barrel for the first time since 2014 as Russia’s dramatic escalation of the Ukraine crisis sparked fears of a disruption to the region’s critical energy exports. Futures in London jumped as much as 3.3 per cent after a report that President Vladimir Putin has decided to conduct a special operation to “protect” the Donbas region. This week, Putin announced he’d send “peacekeeping forces” into the two separatist regions recognised by Moscow, heightening fears among western governments of a full-blown invasion of Ukraine. Russia is a key supplier of energy to global customers, with Europe relying on the nation for about a quarter of its oil supplies and a third of its gas. Tags Brent energy Europe prices Russia Ukraine 0 Comments You might also like Oil jumps over 2% amid further Red Sea vessel attacks Angola leaves OPEC in blow to oil producer group Mubadala Energy boosts Indonesia exposure with major gas discovery ADNOC to buy OCI stake in Fertiglobe for $3.62bn