Crude oil futures were lower in mid-morning Asian trade Feb. 21 after surging at the open as developments in the Russia-Ukraine crisis continue to drive sentiment, with Western leaders trying once again to reach a diplomatic resolution after escalating tensions over the weekend.
At 10:12 am Singapore time (0212 GMT), the ICE April Brent futures contract was down 69 cents/b (0.74%) from the previous close at $92.85/b, while the NYMEX March light sweet crude contract fell 57 cents/b (0.63%) at $90.50/b. The front-month ICE Brent contract had jumped by as much as $1.46/b, and the NYMEX crude contract by $1.86/b in early morning trade as reports of escalating tensions in the Russia-Ukraine crisis spooked markets. US officials, including President Joe Biden, have said in recent days they believe Russian President Vladimir Putin has made the decision […]