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- Crude oil rose on concern escalating tensions in Ukraine and strong U.S. labor data
Crude oil rose on concern escalating tensions in Ukraine and strong U.S. labor data
Crude oil rose for the first time in three days on concern escalating tensions in Ukraine may disrupt global supplies and U.S. employers boosted payrolls by the most in two years.
The U.S. and the European Union blame Russia for fomenting unrest in Ukraine’s easternmost, largely Russian-speaking regions and have threatened wider sanctions to target Russia’s economy unless Putin helps ease tensions.
The 288,000 gain in U.S. employment was the biggest since January 2012, the Labor Department reported. The unemployment rate dropped to 6.3%, the lowest level since September 2008.
WTI for June delivery advamced 0.50%, to $99.92 a barrel on the New York Mercantile Exchange.
Brent for June settlement rose $1.06, or 0.98%, to $108.71 a barrel on the London-based ICE Futures Europe exchange.
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