LONDON—Oil steadied on Monday after earlier hitting its highest in more than seven years on fears that a possible Russian invasion of Ukraine could trigger U.S. and European sanctions that would disrupt exports from one of the world’s top producers. Brent crude was up 11 cents, or 0.1 percent, at $94.55 a barrel by 1107 GMT, after earlier hitting a peak of $96.16, the highest since October 2014. U.S. West Texas Intermediate (WTI) crude rose 9 cents, or 0.1 percent, to $93.19 a barrel, after earlier hitting $94.94, the loftiest since September 2014. “Market participants are concerned that a conflict between Russia and the Ukraine could disrupt supply,” said Giovanni Staunovo, commodity analyst at UBS. He added that the oil market is very sensitive to any news of potential supply disruptions as oil inventories are low and producers’ spare capacity is expected to fall further. Comments from the United States …