Oil stays above US$104 per barrel amid jitters over Ukraine tensions
April 22, 2014, 2:53 am TWN
BEIJING--The price of oil edged down Monday but stayed above US$104 per barrel as investors watched simmering tensions in Ukraine.
U.S. crude for May delivery was down 12 cents at US$104.18 in electronic trading on the New York Mercantile Exchange after trading resumed following a three-day holiday weekend. The contract rose 44 cents to US$104.30 in the previous session.
Brent crude, an international benchmark for oil, was down 38 cents at US$109.15 on the ICE Futures exchange in London.
In other energy futures trading in New York:
— Wholesale gasoline fell 0.0014 cents to US$3.00830 a gallon.
— Natural gas was up 0.8 cents at US$4.749 per 1,000 cubic feet.
— Heating oil was flat at US$2.99 a gallon.
Markets are on edge at the possibility of European or U.S. sanctions that might disrupt Russian supplies. Tensions were fueled by an Easter morning shooting at a checkpoint manned by pro-Russian insurgents.
Upward pressure on prices was offset last week by a U.S. Energy Department report that showed an increase of 10 million barrels of crude oil supplies, the largest in 13 years.