Oil prices dip after soaring on Russia's invasion of Ukraine

The April Brent crude futures contract fell US$1.15, or 1.2%, to settle at $97.93 a barrel, after climbing as high as $101.99. The more active May contract shed $1.30, or 1.4%, to $94.12. U.S. West Texas Intermediate (WTI) crude fell $1.22, or 1.3%, to settle at $91.59 a barrel, after hitting a session high of $95.64.

NEW YORK: Oil prices slipped Friday after sharp rises early in the session on concern over potential global supply disruptions from sanctions on major crude exporter Russia.

The April Brent crude futures contract fell US$1.15, or 1.2%, to settle at $97.93 a barrel, after climbing as high as $101.99. The more active May contract shed $1.30, or 1.4%, to $94.12.