New York—ICE September Brent settled $1.32 higher at $108.39/barrel Friday on escalating violence in Ukraine and Middle East and expectations that sanctions against Russia will once again be extended. September Brent broke through resistance at the $108/b level and pushed as high as $108.46/b. NYMEX September crude settled 2 cents higher at $102.09/b. The price action widened the front-month Brent-WTI spread to $6.30/b, up from $5/b on Thursday. The spread had narrowed to a more than three-month low of $4.52/b on Wednesday. In products, NYMEX August ULSD settled 4.48 cents higher at $2.9157/gal and August RBOB ended 2.85 cents higher at $2.8653/gal.
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