Russia’s invasion of Ukraine sent oil prices surging above $100 a barrel in the U.S. Tuesday, a seven-year high. To try to keep prices in check, a global consortium agreed to release oil from global reserves. The head of the International Energy Agency described the situation in the energy markets as very serious, adding global energy security is under threat, putting the world economy at risk.

As we’ve been reporting, New Jerseyans are extending their support to Ukraine — and companies are too. Jersey City-based Goya Foods is distributing hundreds of thousands of pounds of food to Ukraine and Poland, now home to thousands of refugees. Numerous other companies are also responding, including Airbnb, which will be providing free short-term housing for refugees.

One of New Jersey’s most prominent CEOs is retiring. Barry Ostrowsky, CEO and president of RWJ Barnabas Health, will retire at the end of this year. Mark Manigan, chief strategy and business development officer, will assume the role of president and then take over as CEO on Jan. 1 next year.

President Biden is expected to push for clean-energy tax credits during his State of the Union address Tuesday night, asking Congress to address climate change.

Finally, a long-standing tradition in New Jersey — a ban on pumping your own gas — could be coming to an end, under a bipartisan bill introduced in the Assembly. The bill would require gas stations with four or more pumps to continue offering full service but other gas stations could offer self-service. New Jersey is the only state in the country that bans self-service. That law’s been on the books since 1949.

On Wall Street, both the New York Stock Exchange and the NASDAQ have suspended trading of stocks of Russian companies following the U.S. sanctions on Russia.