Oil price tops US$105, gas, grains, metals spike as Russia invades Ukraine

Oil LCOc1 rose above $105 per barrel for the first time since 2014, UK and Dutch gas 0#TRNLTTFc rose about 40%-50%, wheat Wv1 jumped to a near decade high, corn to an eight-month peak and aluminium CMAL3 soared to record highs(File pic shows oil drilling in Russia.)Oil drilling russia

LONDON: Commodity prices jumped to multi-year highs on Thursday after Russia invaded Ukraine, raising the prospect of tighter supplies due to the possibility of additional sanctions on Russian exports, transport disruptions and Moscow withholding supplies.

Russia launched an all-out invasion of Ukraine by land, air and sea on Thursday, the biggest attack by one state against another in Europe since World War Two. Read full story