Stock markets are plunging and Brent crude oil costs are nearing $100 a barrel as the crisis over Ukraine deteriorates.
Brent, the international benchmark, was trading above $97 – its highest level since 2014 – and market experts said there would be an inevitable spike to above $100 in the event of a full invasion of Ukraine by Russia.
Jitters grew after columns of military vehicles, including tanks and armoured personnel carriers, were seen on the outskirts of Donetsk, the capital of one of two breakaway regions of eastern Ukraine.
Stock markets in Asia were the first to react.
The Hang Seng in Hong Kong was down by almost 3%.
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