LONDON—Oil prices surged on Tuesday as concerns over supply disruptions after Russia’s invasion of Ukraine and related sanctions outweighed talks of a coordinated global crude stocks release. May Brent crude futures were up $5.14, or 5.25 percent, to $103.11 a barrel by 1145 GMT. The benchmark touched a seven-year high of $105.79 after the invasion began last week. U.S. West Texas Intermediate (WTI) April crude futures were up $3.91, or 4.08 percent, at $99.63. The contract touched a high of $99.10 a barrel the previous day, ending up more than 4 percent. A huge Russian military convoy approached Ukraine’s capital Kyiv on Tuesday after talks between Russia and Ukraine failed to reach a breakthrough. Russia’s economic isolation deepened as the world’s biggest shipping firm Maersk on Tuesday said it would halt container movement to and from Russia. Britain meanwhile has banned all ships with any Russian connection from entering British …
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