Oil hits $110 a barrel despite emergency measures

Oil prices have surged on international energy markets despite new measures aimed at calming concerns about the impact of the Ukraine invasion.

Brent crude – the international benchmark for oil prices – has topped $110 (£82) a barrel, marking the highest level seen in more than seven years.

The rise came even after the International Energy Agency’s members agreed to release 60 million barrels of oil from emergency stockpiles.