By Bozorgmehr Sharafedin
LONDON (Reuters) -Oil eased on Monday from its highest in more than seven years as Ukraine hinted at possible concessions to Russia that could alleviate tensions between the two countries that Western governments say are on the brink of war.
Brent crude was down 60 cents, or 0.6%, at $93.84 a barrel by 1440 GMT after touching its highest since October 2014 at $96.16.
U.S. West Texas Intermediate (WTI) crude fell 47 cents, or 0.5%, to $92.63 after hitting $94.94, the loftiest since September 2014.
“Market participants are concerned that a conflict between Russia and Ukraine could disrupt supply,” said UBS commodities analyst Giovanni Staunovo.
He said the oil market is sensitive to any news of potential supply disruptions because oil inventories are low and producers’ spare capacity is