NEW YORK, Mar 5 (NNN-AGENCIES) – Oil prices spiked yesterday, as the ongoing military conflict between Russia and Ukraine kindled fears about energy supply disruptions.
The West Texas Intermediate (WTI) for Apr delivery, added 8.01 U.S. dollars, or 7.4 percent, to settle at 115.68 dollars a barrel, on the New York Mercantile Exchange, the highest finish since Sept, 2008.
Brent crude for May delivery increased 7.65 dollars, or 6.9 percent, to close at 118.11 dollars a barrel, on the London ICE Futures Exchange, the highest settlement since Feb, 2013.