Brent Crude Falls as Ukraine Elects New President
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Brent crude fell amid speculation that Ukraine’s election of a new president may help ease months of tension with Russia, the world’s biggest energy exporter. West Texas Intermediate slid in New York.
Futures dropped 22 cents in London. Ukraine elected billionaire Petro Poroshenko as president yesterday, handing him the task of stemming separatist unrest in the country, a conduit for Russian oil and natural gas supplies to Europe. China, the second-largest oil user globally, announced plans to slow its pace of energy consumption.