U.S. oil prices near US$ 100 amid Ukraine crisis

U.S. oil prices hit a seven year high on Tuesday, nearing one-hundred U.S. dollars a barrel amid rising tension in Ukraine.

Brent crude futures jumped 6 percent during trading, climbing as high as over 99 U.S. dollars.
West Texas Intermediate futures also surged one.4 percent, settling at around 93 dollars, after touching 96 dollars.
The surge follows news that Russia sent troops into Ukraine’s eastern Donbas region.
Analysts warn that the global energy market could face further volatility as Russia is the world’s third largest oil producer and the second biggest producer of natural gas.