LONDON—Oil jumped nearly 3 percent 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 $2.26, or 2.5 percent, to $92.88 a barrel by 1051 GMT. U.S. West Texas Intermediate crude was at $86.09 a barrel, up $2.15, or 2.6 percent.
