Russian Oil Offered at Record Discount as Buyers Hit Pause

Reuters

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

NEW YORK (Reuters) -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. 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. On Thursday, Russia’s invasion of Ukraine boosted prices above $100 a barrel for the first time since 2014, with Brent touching $105, before paring gains by the close of trade.