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AP National Business

Oil prices jump, shares sink as Ukraine conflict deepens

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KMIZ

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Published 5:34 AM

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Oil prices have jumped and shares are sharply lower as the conflict in Ukraine deepens amid mounting calls for harsher sanctions against Russia. Brent crude oil briefly surged above $130 a barrel but was trading around $125 a barrel later Monday. Benchmark U.S. crude also bounced, gaining $10 and then giving up some of that advance. European markets opened lower and U.S. futures were down 1.7%. Russian forces continued to pummel some Ukrainian cities with rockets even after Moscow announced another cease-fire and proposed a handful of humanitarian corridors to allow civilians to flee Ukraine starting Monday. 

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