Oil breaks US$90/bbl for the first time since 2014 on Russia tensions

Brent crude gained US$1.76, or 2%, to settle at $89.96 a barrel, after surpassing $90 for the first time since October 2014. U.S. West Texas Intermediate (WTI) crude closed up $1.75, or 2%, to $87.35 a barrel.

NEW YORK: Oil rose on Wednesday, tuoching $90 a barrel for the first time in seven years, supported as tight supply and rising political tensions between Russia and Ukraine added to concerns about further disruption in an already-tight market.

Brent crude gained US$1.76, or 2%, to settle at $89.96 a barrel, after surpassing $90 for the first time since October 2014. U.S. West Texas Intermediate (WTI) crude closed up $1.75, or 2%, to $87.35 a barrel.