search

Brent crude up $12, shares sink and price of gold jumps amid Ukraine conflict

A currency trader walks near the screen showing the foreign exchange rate between US dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea,  March 7, 2022  (AP Photo/Lee Jin-man)
A currency trader walks near the screen showing the foreign exchange rate between US dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, March 7, 2022 (AP Photo/Lee Jin-man)

TOKYO — The price of oil jumps more than $12 a barrel and shares are sharply lower as the conflict in Ukraine deepens amid mounting calls for harsher sanctions against Russia.

Brent crude oil surges more than 10%, while benchmark US crude is up $10 at more than $125 a barrel.

Stock futures in the US and Europe also drop.

The price of gold, which is viewed as an investor safe haven in times of crisis, jumps $26 an ounce to $1,992.90.

comments
Never miss breaking news on Israel
Get notifications to stay updated
You're subscribed