“Energy Prices Surge on Ukraine With Oil Closing In on $100”

“European natural gas led the gains with as much as 13% rise, helped higher by Germany halting the approval process of the controversial Nord Stream 2 pipeline. Brent oil closed in on $100 a barrel, and power and coal prices rose. Moscow’s move is a dramatic escalation in the standoff, with the U.K. responding by sanctioning five Russian banks and the European Union planning to restrict access to its financial markets. The U.S. said it plans to announce new restrictions as soon as Tuesday…”
https://finance.yahoo.com/news/european-gas-surges-putin-orders-070235854.html

See the bold? That’s the real reason driving oil prices. Geographic tensions won’t last forever especially with a super power. The world can’t withstand a war with one.