Ukraine crisis: commodities prices surge as stock markets slump

Russian invasion of Ukraine fuels near-40% rise in gas price and oil to $105 per barrel as European stock markets tumble

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Global markets were thrown into turmoil on Thursday as the outbreak of war on European soil sent prices of commodities from oil and gas to wheat surging, while stock market plunged.

The ramifications of a potentially prolonged conflict involving Europe's primary supplier of gas sent a chill through markets, affecting prices across a broad spectrum of asset classes and investments.