Crude oil futures ended higher on Thursday as Russian troops and tanks pushed into Ukraine and airstrikes hit the country in an attack authorized by President Vladimir Putin. The Russian attack on Ukraine is viewed as the largest such military operation in Europe since the Balkan Wars of the 1990s and possibly since World War II and is likely to spark concerns about supply disruptions, during a period of uncertainty in the global economy underpinned by COVID worries and supply-chain bottlenecks.
Benchmark crude oil futures for April delivery surged $0.71 or 0.8 percent to settle at $92.81 a barrel on the New York Mercantile Exchange. Brent crude for April delivery rose $2.24 or 2.3 percent to settle at $99.08 a barrel on London's Intercontinental Exchange.