Oil prices were higher today but paired some gains later in the day. Crude demand in China is rebounding after being hurt by strict Covid restrictions over the last few months. There are also more concerns of Russian supply as tensions between Russia and Ukraine continue to escalate. Russia is pushing ahead with its biggest conscription since WW2 in what it calls a “partial mobilization” but some people within the country have called a full mobilization. Putin’s bellicose rhetoric is what’s propping up this market,” said John Kilduff, partner at Again Capital LLC in New York. Germany agreed to nationalize natural gas company Uniper while the British government said it would cap wholesale electricity and gas costs for businesses. WTI traded up $0.55 or 0.7% to close at $83.49. Brent traded up $0.63 or 0.7% to close at $90.46.