Investing.com - Crude futures rose on Monday after pro-Russian
separatists in eastern Ukraine voted in favor of self rule in a
weekend referendum, which fueled fears the conflict may escalate
further and affect Russian oil shipments.
On the New York Mercantile Exchange, West Texas Intermediate
crude oil for delivery in June traded at $100.53 a barrel during
U.S. trading, up 0.54%. New York-traded oil futures hit a session
low of $99.94 a barrel and a high of $100.93 a barrel.
The June contract settled down 0.27% at $99.99 a barrel on
Nymex oil futures were likely to find support at $99.76 a
barrel, Friday's low, and resistance at $101.15 a barrel, Friday's
Pro-Russian separatists claimed victory in a weekend referendum
on self-rule in the eastern Ukrainian city of Donetsk, which
stirred concerns that the country is sliding closer to civil
The vote has been condemned by Ukraine's government and the
West, which has threatened to slap Russia with fresh sanctions,
underlining concerns over a disruption to supplies from the
Russia produced 10.4 million barrels of oil per day in 2012 and
exported 7.4 million, making it the world's second largest oil
exporter after Saudi Arabia.
Elsewhere, on the ICE Futures Exchange in London, Brent oil
futures for June delivery were up 0.43% and trading at US$107.74 a
barrel, while the spread between the Brent and U.S. crude contracts
stood at US$7.21 a barrel.
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