Crude oil futures settled lower on Friday as investors continued to monitor Russia’s invasion of Ukraine, a day after crude briefly topped the $100-a-barrel threshold for the first time in over seven years. Reports said Russia was in favor of talks with Ukraine pressured prices, though few details were available and traders remained cautious. Meanwhile. A report from Baker Hughes today showed the rigs count in the U.S. rose by 2 to 522 in the week to February 25.
Benchmark crude oil futures for April delivery fell $1.22 or 1.3 percent to settle at $91.59 a barrel on the New York Mercantile Exchange. Brent crude for April delivery declined $1.15 or 1.2 percent to settle at $97.93 a barrel on London's Intercontinental Exchange.