Oil prices soared past $100 for the first time in over seven years on Thursday after Russian President Vladimir Putin announced a"military operation" in Ukraine, apparently realising fears he would invade.

In the wake of Putin's 'military operation' threat, oil prices soar past $100 for the first time since 2014

Crude oil prices, which have been on a steady increase for 3 consecutive weeks, seem to be coming to an end primarily due to the rising tension between the United States and China

Oil prices have risen sharply in recent weeks

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In the wake of Putin's 'military operation' threat, oil prices soar past $100 for the first time since 2014

Oil prices have risen sharply in recent weeks