Oil Approaches $90 On Firm Demand, Ukraine Invasion Fears

Oil rose early on Wednesday to the highest level since 2014, with Brent approaching $90 a barrel, as resilient global demand despite the Omicron wave and fears of a Russian invasion of Ukraine supported prices. As of 9:24 a.m. EST on Wednesday, before the weekly U.S. inventory report from the EIA, WTI Crude prices were up 1.07% at $86.52, and Brent Crude was less than a dollar below $90—at $89.35, up 1.30% on the day. Prices rose as the tension between the West and Russia over Ukraine continues.   On Tuesday, U.S. President Joe Biden…