Brent crude up $10, shares sink as Ukraine conflict deepens

Published March 6, 2022 8:28 PM

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — The price of oil has jumped about $10 a barrel and shares are sharply lower as the conflict in Ukraine deepens amid mounting calls for harsher sanctions against Russia. Brent crude oil surged to nearly $130 a barrel. Benchmark U.S. crude was up about $10 at more than $125 a barrel. The surge followed a warning from Russian President Vladimir Putin that Ukrainian statehood was imperiled as Russian forces battered strategic locations. Germany’s DAX fell almost 5% and benchmarks in Europe and Asia also tumbled. U.S. futures dropped. The Moscow stock exchange was due to stay closed to most trading on Monday.

Article Topic Follows: AP National Business

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