Oil prices gained more than $1 on Thursday, trading below seven-year highs hit earlier this week, as fresh developments on the Russia-Ukraine crisis sparked concerns that supported prices.
Brent crude rose 73 cents, or 0.75%, to $97.57 a barrel at 0130 GMT, after soaring as high as $98.08.
U.S. West Texas Intermediate (WTI) crude futures jumped 85 cents, or 0.9%, to $92.95 a barrel, after rising to as much as $93.50.
U.S. Secretary of State Antony Blinken has said he believes Russia will invade Ukraine within hours after separatists on Wednesday asked for Russian help to repel “aggression” and as explosions rocked the breakaway eastern city of Donetsk.
