Oil and gas prices climbed on Tuesday on fears the Ukraine-Russia crisis will disrupt supplies across the world.

The price of Brent crude oil, an international benchmark, touched a seven-year high of more than $99 (£73) a barrel after President Vladimir Putin ordered troops into Ukraine's east. But prices later moderated, despite Western countries responding with economic sanctions and moves to block a key Russian gas pipeline.

After falling more than 1.5% in early trade on Tuesday, Wall Street turned up following remarks by US President Joe Biden outlining the US response. The Dow closed down 1.4%, however, while the wider S&P 500 slumped 1% and the Nasdaq fell 1.2%.

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