Oil passes $110 a barrel as Russia’s invasion of Ukraine continues – here’s what it means for you

With Russia's invasion of Ukraine intensifying, the price of oil, gas and petrol has soared even further. Saloni Sardana looks at what the future may hold for energy prices.

A worker on a motor oil filling line.
Russia is the world's second largest oil exporter.
(Image credit: © Gavriil Grigorov\TASS via Getty Image)

Brent crude oil hit an eight year high of $111 on Wednesday as Russia’s invasion of Ukraine showed little signs of abating. The price of gas has also shot up.

Russia, which plays a prominent role in both the oil and gas markets, has been hit with a host of sanctions by the West.

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Saloni Sardana

Saloni is a web writer for MoneyWeek focusing on personal finance and global financial markets. Her work has appeared in FTAdviser (part of the Financial Times),  Business Insider and City A.M, among other publications. She holds a masters in international journalism from City, University of London.

Follow her on Twitter at @sardana_saloni