Oil see-saws near 14-yr highs as US weighs Russia oil embargo
MELBOURNE: Oil prices see-sawed near 14-year highs on Tuesday as the United States considered acting alone to ban Russian oil imports rather than teaming up with allies in Europe, easing concerns of a wider disruption to crude supplies.
Brent crude futures were up $1.06, or 0.9%, at $124.27 a barrel at 0223 GMT, after trading as high as $125.19 then dipping to $121.31.
US West Texas Intermediate (WTI) crude futures were up 36 cents, or 0.3%, at $119.72 a barrel after also trading in a roughly $4 range.
The erratic moves came following a sharp run-up on Monday to near 14-year highs when the Biden Administration said it was talking to Britain, France and Germany about a ban on Russian oil.
