Global equities tumbled on Thursday and oil prices breached $100 for the first time in more than seven years after key crude producer Russia launched an invasion of Ukraine, accelerating fears of a major war in eastern Europe.
In reaction, oil rocketed, with European benchmark Brent prices briefly cruising past $105 per barrel for the first time since 2014, while aluminium and wheat surged to record peaks on fears over output from major exporter Russia.