(Bloomberg) — Oil and gold rose after Russian President Vladimir Putin announced that he’s recognizing two self-proclaimed separatist republics in eastern Ukraine and plans to send “peacekeeping forces” to the region in a dramatic escalation of the conflict.
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West Texas Intermediate climbed more than 3% from Friday, after not closing Monday due to a U.S. holiday, to above $93 a barrel, while gold touched an eight-month high. There were no details on how many Russian troops might go in, or when. Moscow has previously accused Ukraine of having a significant deployment of its own soldiers on the line of contact with the separatists in the Donetsk and Luhansk regions.
Geopolitical tensions in eastern Europe and the Middle East have roiled markets and pushed oil closer to $100 a barrel. A conflict in Ukraine or retaliatory sanctions would potentially upend…
