Oil rose to nearly $100 a barrel on Tuesday, reaching its highest level since 2014 after Moscow ordered troops into two breakaway regions in eastern Ukraine. Benchmark Brent futures pared gains in late trading after Western governments announced sanctions aimed at stopping what they fear is the beginning of a full-scale Russian invasion. Global benchmark Brent crude traded as high as $99.50 a barrel, its highest since September 2014, before settling at $96.84 with a $1.52, or 1.5%, gain. The United States and Britain announced sanctions targeting Russian banks, while the European Union blacklisted more politicians and Germany put the brakes on the $11 billion Nord Stream 2 gas pipeline project. “The market obviously pumped in excess risk premium as Russia entered the separatists’ portion of the Ukraine and this fear premium gradually dissolved,” said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois. A senior U.S. State Department …