Oil rebounds on escalating Ukraine conflict | Reuters
Oil prices rebounded on Friday as fears of Western sanctions that could disrupt Russian oil exports outweighed the possibility of more Iranian supplies while reports of a nuclear plant fire in Ukraine spooked financial markets.
Global stocks fell and oil prices rose on signs of an escalation in the Russia-Ukraine conflict after reports of a fire at a Ukrainian nuclear power plant after an attack by Russian troops.
Fears of a potential nuclear disaster at the Zaporizhzhia plant, Europe's largest, had spread alarm across world capitals before authorities said the fire in a building identified as a training centre had been extinguished. read more
Brent crude futures for May rose as high as $114.23 a barrel and by 0755 GMT were up 73 cents, or 0.7%, at $111.19.
U.S. West Texas Intermediate for April rose $1.21, or 1.1%, to $108.88 after touching a high of $112.84 earlier in the session.
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