ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more