Crude oil prices are surging in reaction to the crisis in the Ukraine. It was not clear how the oil market would react. Equities have sold off on the potential for damage to the global economy. Russia has been a bigger and bigger global trading partner, so its isolation would hurt global GDP. Russia, of course, is one of the world’s largest oil producers and exporters. It also exports a lot of refined products.
Energy Overview — TotalView™ of the Energy Markets