URGENT: WTI oil price soars more than 10% on Ukraine fallout

US benchmark oil contract, West Texas Intermediate, soared more than 10 percent in value Tuesday, as Ukraine’s invasion by key producer Russia fuels fears over supplies. WTI reached $106.29 per barrel and European benchmark Brent North Sea crude surged more than nine percent to $107.44 — with both levels the highest in more than seven years. emb-bcp/kjm © Agence France-Presse