Russia claims control of key port city on Black Sea, causing spikes in oil markets
Overnight, Russia claimed a key Ukrainian port city on the Black Sea. Video on social media shows tanks moving in.
Major U.S. oil companies now say that they are pulling out of Russia, respite a lack of U.S. sanctions. Oil rose another $5 dollars overnight, and Russian currency sank even further and is now virtually worthless.
All of this, impacting the overnight ag markets as well.
** Update **
A cargo ship has just sunk off the Ukrainian port of Odessa after an explosion. Two crew members were able to get on a life raft at sea, while four others are missing. The vessel’s manager says that the ship might have stuck a mine.