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Futures on US West Texas Intermediate Crude Oil eased from a fresh 91-month high on Friday, but were still poised for a sharp weekly advance due to fears over global supply disruptions stemming from trade sanctions on Russia after it assaulted neighboring Ukraine.

Russia is the second-largest crude oil producer worldwide and a key provider of natural gas for Europe.

Yesterday Crude Oil surged past $100 per barrel and Brent Oil moved above the $105 mark for the first time since mid-2014, after Russia launched a massive invasion by land, sea and air – the largest assault against an European state since World War II – which forced tens of thousands of people to leave their homes.

The offensive prompted the United States to impose a wave of sanctions against Russia, including such against banks and state-owned enterprises.

“Asian buyers, clearly nervous into the weekend, have piled into oil today sending prices higher once again, helped along by reports of explosions in Kyiv,” Jeffrey Halley, senior market analyst at OANDA, was quoted as saying by Reuters.

“The Ukraine situation will serve to keep prices elevated, as will the threat of disruptions, real or imagined, coming in an environment of already strong demand and constrained supply globally… I believe Brent crude will now trade in a $90-110 range over the next few weeks.”

Still, a US official said that Russia’s oil and gas flows would not be specifically targeted by sanctions.

“Oil markets are particularly vulnerable to supply shocks given global oil stockpiles are at seven-year lows,” Commonwealth Bank analyst Vivek Dhar wrote in an investor note.

As of 9:21 GMT on Friday WTI Crude Oil Futures were gaining 1.19% to trade at $93.91 per barrel. Yesterday the black liquid rose as high as $100.54 per barrel, which has been its strongest price level since July 30th 2014 ($101.67 per barrel).

At the same time, Brent Oil Futures were gaining 1.21% on the day to trade at $100.24 per barrel. Yesterday the commodity rose as high as $105.74 per barrel, which has been its strongest price level since August 8th 2014 ($106.82 per barrel).

Daily Pivot Levels (traditional method of calculation) – WTI Crude Oil Futures

Central Pivot – $94.93
R1 – $98.42
R2 – $104.02
R3 – $107.51
R4 – $110.99

S1 – $89.33
S2 – $85.84
S3 – $80.24
S4 – $74.63

Daily Pivot Levels (traditional method of calculation) – Brent Oil Futures

Central Pivot – $100.61
R1 – $104.17
R2 – $109.30
R3 – $112.86
R4 – $116.42

S1 – $95.48
S2 – $91.92
S3 – $86.79
S4 – $81.66

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