West Texas Intermediate (WTI) crude traded close to the highest price in three days despite speculation the Crimea’s vote to be separated from Ukraine may escalate upheaval between Russia and the West.
Brent was firm in London.
Futures were slightly changed in New York after increasing on the second day on March 14. The US and the European Union cautioned Russia not to adjoin Crimea following the referendum, preparing the stage for sanctions against the world’s largest energy producer. Libya’s production dropped following the protesters shut a pipeline which carries crude from Sharara, the country’s second biggest
field, said the state-run National Oil Corp. WTI to be delivered in April settled at $98.90 per barrel in electronic trading on the New York Mercantile Exchange, up 1 cent, at 2:55 p.m. (Singapore time). The contract advanced 69 cents to $98.89 on March 14. The volume of all futures listed was around 29% above the 100-day average.
Prices went up 0.5% this year.
Brent for May settlement slid 13 cents to $108.08 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $9.64 to the WTI contract for the same month.
Ukraine Crisis
Brent ascended 1.1% on March 14, the most in about two weeks, before yesterday’s referendum. A total of 95.5% of voters in the Black Sea peninsula supported leaving Ukraine in order to join Russia, initial results show. The Ukrainian government, the EU, and the US viewed the vote illegitimate but Russia said it met international norms.
US President Barack Obama signed an executive order permitting financial sanctions, allowing Treasury Secretary Jacob J. Lew to take measures that might include freezing assets or halting American firms or individuals from doing business with Russians, Ukrainians, or others seen a threat to Ukraine’s security. UK Foreign Secretary William Hague noted the Crimea vote as illegal, unconstitutional, and illegitimate.
The material has been provided by InstaForex Company – www.instaforex.com
West Texas Intermediate (WTI) crude traded close to the highest price in three days despite speculation the Crimea’s vote to be separated from Ukraine may escalate upheaval between Russia and the West.
Brent was firm in London.
Futures were slightly changed in New York after increasing on the second day on March 14. The US and the European Union cautioned Russia not to adjoin Crimea following the referendum, preparing the stage for sanctions against the world’s largest energy producer. Libya’s production dropped following the protesters shut a pipeline which carries crude from Sharara, the country’s second biggest
field, said the state-run National Oil Corp. WTI to be delivered in April settled at $98.90 per barrel in electronic trading on the New York Mercantile Exchange, up 1 cent, at 2:55 p.m. (Singapore time). The contract advanced 69 cents to $98.89 on March 14. The volume of all futures listed was around 29% above the 100-day average.
Prices went up 0.5% this year.
Brent for May settlement slid 13 cents to $108.08 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $9.64 to the WTI contract for the same month.
Ukraine Crisis
Brent ascended 1.1% on March 14, the most in about two weeks, before yesterday’s referendum. A total of 95.5% of voters in the Black Sea peninsula supported leaving Ukraine in order to join Russia, initial results show. The Ukrainian government, the EU, and the US viewed the vote illegitimate but Russia said it met international norms.
US President Barack Obama signed an executive order permitting financial sanctions, allowing Treasury Secretary Jacob J. Lew to take measures that might include freezing assets or halting American firms or individuals from doing business with Russians, Ukrainians, or others seen a threat to Ukraine’s security. UK Foreign Secretary William Hague noted the Crimea vote as illegal, unconstitutional, and illegitimate.
The material has been provided by InstaForex Company – www.instaforex.com
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