Oil prices rose more than 2% to their highest levels in more than seven years, as Ukrainian President Volodymyr Zelensky said he had heard that Russia might invade his country on Wednesday.
Russia is one of the world’s largest oil and gas producers, and fears it might invade Ukraine has prompted oil prices to jump near $100 a barrel.
Brent crude futures rose $2.04, equivalent to 2.16 percent, to settle at $96.48 a barrel.
US crude futures also jumped $2.36, or 2.53 percent, to settle at $95.46 a barrel.
