Oil has wildest week on record with markets rocked by war

Oil climbed, ending a week in which it swung by more than $20 a barrel after Russia’s invasion of Ukraine roiled global markets and fueled fears of a supply crunch.

Futures in New York and London were up more than 2% Friday. The global Brent benchmark has traded in the biggest range since the launch of the futures contract in 1988 — eclipsing the wild swings in the global financial crisis of 2008 and when demand plunged in the coronavirus pandemic. Brent was near $112, and West Texas Intermediate traded around $110.

On Friday, prices climbed after Ukrainian officials said Russian forces attacked a nuclear plant — Europe’s biggest. While the likelihood of a major disruption to Russian supply has boosted prices this week,