LONDON (Reuters) – Oil traded at a seven-year high of about $90 a barrel on Thursday as the Ukraine crisis supported prices despite signs that the U.S. Federal Reserve will tighten monetary policy.
Brent crude futures were up 6 cents, or 0.1%, at $90.02 a barrel by 11113 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 2 cents at $87.33.
Crude prices had surged on Wednesday, with Brent climbing above $90 a barrel for the first time in seven years amid tensions between Russia and the West. Russia, the world’s second-largest oil producer, and the West have been at loggerheads over Ukraine, fanning fears of disruption of energy supplies to Europe.
