Oil Prices Near 3-Week High as Supply Worries Dominate Market Sentiment

The UAE Energy Minister Suhail Mohammed Faraj al-Mazroui (L) shakes hands with OPEC Secretary General Mohammed Barkindo (R) watched by Saudi Energy Minister Khalid al-Falih (C) during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the Emirati capital Abu Dhabi, on Nov. 12, 2018. KARIM SAHIB/AFP/Getty Images

Crude oil prices were trading close to a three-week high on April 18 amidst fears of supply disruption due to the ongoing Ukraine crisis.

Brent crude oil futures hit a high of $113.80 per barrel, a level unseen since March 30. U.S. West Texas Intermediate futures hit $105.55 per barrel, which was also the highest level since March 30.