NPR

Oil prices surge as fears about Russian crude supplies intensify

The global benchmark topped $113 briefly on Wednesday, just days after it crossed the triple-digit mark for the first time in seven years.
Gas prices reach over $5 a gallon at a petrol station in Los Angeles on Feb. 25. Oil prices continue to surge after Russia's invasion of Ukraine, with some analysts describing market conditions as verging on "panic."

Oil prices continue to surge on Wednesday, with markets bracing for serious disruptions to crude supplies from Russia as Moscow's invasion of Ukraine grinds on.

The global benchmark, Brent, soared to as high as $113 a barrel on Wednesday, just days after breaching the triple-digit mark for the first time in seven years.

Although the U.S. and its allies intentionally avoided targeting

You’re reading a preview, subscribe to read more.

More from NPR

NPR3 min read
Roger Corman, The B-Movie Legend Who Launched A-List Careers, Dies At 98
Over some five decades, Corman filled America's drive-ins with hundreds of low-budget movies. Many of Hollywood's most respected directors have at least one Corman picture buried in their resumes.
NPR2 min read
Short-term Loss For Long-term Gain? The Ethical Dilemma At The Heart Of EVs
As mines meet mineral demands for electric vehicles, they put communities and ecosystems at risk. Sustainability researcher Elsa Dominish says the EV industry cannot repeat fossil fuel's mistakes.
NPR3 min read
There's Still A Chance To See The Northern Lights From Lower Latitudes
The solar storm that's pushing sightings of the Northern Lights to lower latitudes is forecast to continue into the coming days, but its impact has likely peaked.

Related Books & Audiobooks