The April Brent crude futures contract was down 33 cents, or 0.3 per cent, to $98.75 a barrel at 1045 GMT, after climbing to as high as $101.99
U.S. West Texas Intermediate crude were down 30 cents, or 0.3 per cent, to $92.51 a barrel, after hitting a session high of $95.64.
In response to the invasion, U.S. President Joe Biden hit Russia with a wave of sanctions on Thursday, measures that impede Russia’s ability to do business in major currencies along with sanctions against banks and state-owned enterprises. Biden also said the United States is working with other countries on a combined release of additional oil from their strategic crude reserves.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global oil price surges to over $100 US as Russia attacks Ukraine | CBC NewsGlobal and North American benchmark prices touch 14-year highs before moderating later in the trading day.
Read more »
Oil prices fall as Russia, Ukraine supply fears waneBrent crude was down 59 cents to $96.25 a barrel at 1027 GMT, after hitting $99.50 on Tuesday, the highest since September 2014
Read more »
Oil surges past $105 for first time in 8 years as Russia attacks UkraineThe escalation has spooked a market that was already under stress
Read more »
Russia attacks Ukraine: At least 40 casualties, Ukraine saysRussian troops launched a wide-ranging attack on Ukraine on Thursday, as President Vladimir Putin cast aside international condemnation and sanctions and warned other countries that any attempt to interfere would lead to 'consequences you have never seen.'
Read more »
Oil heads higher as Ukraine tensions escalate — price depends on what happens next | CBC NewsThe potential for a war in eastern Europe has made energy prices volatile over investor fears that conflict between Russia and Ukraine could disrupt supplies.
Read more »