Oil prices surge above $100 a barrel as war on Ukraine rages
By DAMIAN J. TROISE
AP Business Writer
NEW YORK (AP) — Oil prices soared and investors shifted more money out of stocks and into ultra-safe U.S. government bonds as Russia stepped up its war on Ukraine. The price of oil surged back above $100 a barrel after Russia, a major energy producer, faced further isolation and economic damage because of its invasion of Ukraine. The rush into bonds pushed the yield on the 10-year Treasury back down to 1.71%, where it was in January. In February, it had crossed back above 2% for the first time in over two years. The S&P 500 fell 1.6%.
