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Ukraine war

Oil prices surge on Ukraine war as Exxon plans Russia exit

Wheat prices hit 10-year high as conflict threatens global supply

Oil and Wheat prices are surging as the crisis in Ukraine deepens. (Source photo by Reuters)

TOKYO -- Oil prices are surging despite an overnight agreement by members of the International Energy Agency to release 60 million barrels of reserves, as the crisis in Ukraine deepens.

Crude oil rose 14% on Wednesday to trade at $108.93 per barrel at one point, its highest level in at least a decade.

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