Oil prices take breather as Russia advances further on Ukraine | Reuters

Oil prices take breather as Russia advances further on Ukraine | Reuters

Oil prices slipped on Friday after sharp rises earlier in the session on concern over potential global supply disruptions from sanctions on major crude exporter Russia.

The April Brent crude futures contract was down $1.06, or 1.1%, at $98.02 a barrel at 1453 GMT, after climbing as high as $101.99. The more active May contract shed 64 cents, or 0.7%, to $94.78.

U.S. West Texas Intermediate (WTI) crude was down 31 cents, or 0.3%, to $92.50 a barrel, after hitting a session high of $95.64.

Russia's invasion of Ukraine on Thursday caused prices to surge above $100 a barrel for the first time since 2014, with Brent touching $105, before paring gains by the close of trade.