Monday 14 February 2022

Oil steady as Ukraine-Russia tensions loom | Reuters

Oil steady as Ukraine-Russia tensions loom | Reuters

Oil prices were steady on Monday after hitting their highest in more than seven years on fears that a possible invasion of Ukraine by Russia could trigger U.S. and European sanctions that would disrupt exports from one of the world's top oil producers.

Brent crude was down 12 cents, or 0.1%, at $94.32 a barrel by 0844 GMT, after earlier hitting a peak of $96.16, the highest since October 2014.

U.S. West Texas Intermediate (WTI) crude rose 1 cent, or less than 0.1%, to $93.11 a barrel, hovering near a session-high of $94.94, the loftiest since September 2014.

Comments from the United States about an imminent attack by Russia on Ukraine have rattled global financial markets.

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