Oil jumped more than 2% on Wednesday after Russian President Vladimir Putin announced a partial military mobilization, escalating the war in Ukraine and raising concerns of tighter oil and gas supply. Brent crude futures rose $2.28, or 2.5%, to $92.90 a barrel by 0707 GMT after falling $1.38 the previous day. U.S. West Texas Intermediate crude was at $86.16 a barrel, up$2.22, or 2.6%. Putin said he had signed a decree on partial mobilization beginning on Wednesday, saying he was defending Russian territories and that the West wanted to destroy the country. read more The escalation will lead to increased uncertainty over Russian energy supplies, said Warren Patterson, head of commodities research at ING. “The move could possibly lead to calls for more aggressive action against […]