U.S. oil futures end higher as traders eye Russia-Ukraine crisis

U.S. oil futures logged a modest gain on Wednesday as traders continued to monitor the latest developments on the Russia-Ukraine crisis. “An immediate run towards $100 oil is still in the cards, but the rising prospects that an Iran nuclear deal could be reached in the coming days may tentatively delay” a move above that price level, said Edward Moya, senior market analyst at OANDA. For now, U.S. benchmark crude prices should remain around the low $90s “until a major update with Iran nuclear deal talks or if the new Cold War leads to military conflict,” he said. West Texas Intermediate crude for April delivery rose 19 cents, or 0.2%, to settle at $92.10 a barrel on the New York Mercantile Exchange.

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