Bank Of America: The Ukraine Crisis Could Send Oil Prices $20 Higher

Oil prices could jump by up to another $20 per barrel if the Russia-Ukraine crisis escalates further, according to Bank of America (BofA) Global Research. The latest escalation of the Russia-Ukraine standoff sent oil prices surging close to $100 a barrel early on Tuesday. Brent Crude prices hit a new seven-year high of $99.50 before easing to $97 per barrel. Late on Monday, Russian President Vladimir Putin recognized two separatist regions in eastern Ukraine and ordered the deployment of troops there in the most serious escalation of the crisis…