Both Brent and WTI hit seven-year highs above $93/bbl Oil registers longest stretch of weekly gains since October Oil to hit $100 on-demand, Russia-Ukraine crisis -strategists WTI six-month backwardation at highest since Sept 2013 NEW YORK, Feb 4 (Reuters) – Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers. Brent crude rose $2.16, or 2.4%, to settle at $93.27 a barrel having earlier touched its highest since October 2014 at $93.70. U.S. West Texas Intermediate crude ended $2.04, or 2.3%, higher at $92.31 a barrel after trading as high as $93.17, its highest since September 2014. […]