CEIX - Crude oil pops to $95 as Russia-Ukraine war scare intensifies

The push toward $100/bbl oil had seemed to be slowing this week, but reports on Friday that the U.S. believes Russia's Vladimir Putin could invade Ukraine "any day now" lifted crude to as high as $95/bbl and an eighth straight weekly advance. "The oil market was waiting for a major catalyst to justify a move above $100, and it seems the Ukraine situation just took a turn for the worse," Oanda's Ed Moya said, adding that any crude supply disruption expectations could send the price another 10% higher. Brent crude (CO1:COM) for April delivery closed +3.3% at $94.44/bbl, up 1.3% for the week and the highest finish for a front-month contract since September 2014, while March WTI (Cl1:COM) crude settled +3.6% at $93.10/bbl, up 0.9% for the week and also the best level September 2014. Crude also was helped after the International Energy Agency warned that signs of a shortfall

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Crude oil pops to $95 as Russia-Ukraine war scare intensifies