Oil prices were higher today with Brent trading above $89 for the first time since October. Russia, among the top three global oil producers and one of the largest exporters of oil products, has been contending with Ukrainian attacks on oil refineries and has also attacked Ukrainian energy infrastructure. “The likelihood that continued restricted Russian product exports could further tighten US petroleum supplies has suddenly forced re-calculation of U.S. (oil) balances across the rest of this month and possibly beyond,” said Jim Ritterbusch, president of Ritterbusch and Associates LLC. Markets are also looking ahead to Wednesday’s ministerial panel meeting of OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allied producers. The panel is unlikely to recommend any change in oil output policy, OPEC+ sources told Reuters. WTI traded up $1.44 or 1.7% to close at $85.15. Brent traded up $1.50 or 1.7% to close at $88.92.