As we begin the week on increase turmoil between the Ukraine and Russia(RSX, quote) energy traders are seeing the highest crude oil prices since September of last year as producers are fear political driven supply disruption.

The United States Oil Fund (USO, quote) ETF has jumped 2.26% in pre-market trading to $37.57 as the crude oil futures jump over $104.50 on the headlines that Russia President Putin’s approval for military action from his parliament.

Those looking to play the crisis in the oil market through the USO will need to be nimble as the ETF will react quickly to the downside on any news of an agreement.

Energy future traders are extremely long (also helping to support prices) right now with last week’s (week of Feb. 25) open interest in future contracts to a record 329,100 contracts.