# Oil surges above $100 for the first time since 2014, before paring gains

> Brent and US crude topped $100 a barrel for the first time since 2014 after Russia invaded Ukraine. Prices pulled back in afternoon trade after US President Biden said there were no current plans to sanction Russia's energy sector.

- Date: 2022-02-24 · published 2022-02-24T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/42856-oil-surges-above-100-for-the-first-time-since-2014-before-paring-gains
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Feared sanctions on Russian energy could cut global supply, a bullish driver for crude. The intraday reversal shows the market is pricing in uncertainty about the scope of sanctions.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2026-10-28 | [European gas price crosses €100 for first time since 2022 as EU warns of new crisis \| Euronews](https://feedsoft.ai/events/267-european-gas-price-crosses-100-for-first-time-since-2022-as-eu-warns-of-new.md) | +0.7% | — |
| NATGAS | 2026-04-28 | [Oil Prices Surge as Hormuz Tensions Push WTI Near $100 and Brent Above $111, Threatening Global Energy Markets](https://feedsoft.ai/events/19906-oil-prices-surge-as-hormuz-tensions-push-wti-near-100-and-brent-above-111.md) | +5.1% | +13.7% |
| NATGAS | 2026-04-29 | [Crude oil price jumps to $115, highest level since June 2022 amid stalled Iran war talks. Brace for $150? - The Economic Times](https://feedsoft.ai/events/19905-crude-oil-price-jumps-to-115-highest-level-since-june-2022-amid-stalled-iran.md) | +6.9% | +17.4% |
| NATGAS | 2026-04-01 | [How the Iran War Is Disrupting Global Oil and Gas Supply](https://feedsoft.ai/events/20364-how-the-iran-war-is-disrupting-global-oil-and-gas-supply.md) | -4.5% | -9.0% |
| NATGAS | 2026-03-24 | [Traders bet $500 million on oil price just before Trump's post on delay to Iran attack \| Reuters](https://feedsoft.ai/events/8154-traders-bet-500-million-on-oil-price-just-before-trump-s-post-on-delay-to-iran.md) | -1.1% | -6.4% |
| WTI | 2018-10-01 | [US crude surges above $75 to the highest level since November 2014](https://feedsoft.ai/events/62708-us-crude-surges-above-75-to-the-highest-level-since-november-2014.md) | +1.5% | -7.7% |
| WTI | 2026-03-06 | [Oil surges 35% this week for biggest gain in futures trading history](https://feedsoft.ai/events/5231-oil-surges-35-this-week-for-biggest-gain-in-futures-trading-history.md) | +18.2% | +39.2% |
| WTI | 2026-03-06 | [Wheat Climbs the Most Since 2024 as Grains Follow Surging Crude](https://feedsoft.ai/events/9847-wheat-climbs-the-most-since-2024-as-grains-follow-surging-crude.md) | +18.2% | +39.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/02/24/oil-prices-jump-as-russia-launches-attack-on-ukraine.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.