Crude oil futures ended higher on Wednesday as traders weighed risks to global crude supplies amid sanctions on Russia and the potential for a full invasion of Ukraine. Meanwhile, Ukraine declared a state of emergency and told its citizens in Russia to flee, while Moscow began evacuating its Kyiv embassy in the latest ominous signs for Ukrainians who fear an all-out Russian military onslaught.
Benchmark crude oil futures for April delivery surged $0.19 or 0.2 percent to settle at $92.10 a barrel on the New York Mercantile Exchange. Brent crude for April delivery ended flat at $96.84 a barrel on London's Intercontinental Exchange.