Brent oil hits 8-year high, reaching $100

ISTANBUL

The start of Russia's invasion of Ukraine pushed the per barrel price of Brent oil to the $100 level for the first time since 2014.

On early Thursday, explosions were reported in several Ukrainian provinces, including the capital Kyiv, after Russian President Vladimir Putin announced a "special military operation" in the Donbas region.

In a statement on Thursday morning, the Russian Defense Ministry announced it is using “high-precision weapons” to disable air defense systems, military airports, and the air force in Ukraine.

The military operation raised concerns that the energy supply in the region would be interrupted.

The price was around $93 on Wednesday.