World News | Oil Prices Surge to $110 a Barrel as Russia Batters Ukraine
Get latest articles and stories on World at LatestLY. Oil prices are surging again as Russia continues its assault on Ukraine, pushing crude up to $110 a barrel.
New York, Mar 2 (AP) Oil prices are surging again as Russia continues its assault on Ukraine, pushing crude up to $110 a barrel.
Higher energy prices could worsen the inflation that's already threatening economies everywhere and prompting concern among central banks.
Also Read | Russian Missile Strike Hit Buildings in Ukraine’s City Zhytomyr, Rescue Efforts Underway.
Federal Reserve Chair Jerome Powell is telling Congress in testimony Wednesday morning that the Fed is ready to begin a cycle of interest rate increases this month in an effort to figh back inflation.
Stocks are opening higher, and energy companies were posting some of the biggest gains as crude prices jumped more than 5%. (AP)
Also Read | Crude Oil Price Soars to $113 A Barrel as Russia-Ukraine Conflict Worsens.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)