U.S. oil futures end above $95 a barrel on Russia-Ukraine tensions

U.S. oil futures rallied past $95 a barrel on Monday, settling at their highest since September 2014, with traders closely eying developments tied to the Russia-Ukraine crisis and its potential impact on global oil markets. “The possibility of war between Ukraine and Russia has put oil prices on a one-way road higher,” said Edward Moya, senior market analyst at OANDA. “The oil market is very tight and geopolitical tensions over Ukraine has energy traders eyeing a crude price move above the $100 level.” West Texas Intermediate crude for March delivery rose $2.36, or 2.5%, to settle at $95.46 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since Sept. 3, 2014.

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