Crude oil price soars to $113 a barrel as Russia-Ukraine conflict worsens

New Delhi, Mar 2: The Brent crude oil on Wednesday touched an eight-year-high as the oil prices surged to $113.03 per barrel in London. In the last two days alone, the prices have surged over 15 per cent due to disruptions in supply amid escalating Russia-Ukraine tensions.

Brent crude, also known as London Brent, makes up more than half of the world's globally traded supply of crude oil.

West Texas Intermediate (WTI) crude oil price jumped to $111.50 a barrel. Crude oil prices have spiralled in the last one week after Russian President Vladimir Putin ordered a military operation in Ukraine, reported ANI.

First time since 2014, the oil price touched $100 a barrel last week after Russian troops launched their anticipated attack on Ukraine last Thursday, as President Vladimir Putin cast aside international condemnation and sanctions, warning other countries that any attempt to interfere would lead to "consequences you have never seen".