Oil Prices Jump as Attack on Convoy Boosts Ukraine Fears
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Brent and West Texas Intermediate crudes advanced after Ukraine said its forces attacked and partially destroyed a convoy entering the country from Russia.
Ukrainian troops engaged the vehicles that had arrived overnight through a rebel-held section of the border, Andriy Lysenko, a spokesman for the country’s military, told reporters in Kiev today. Brent dropped to the lowest level since June 2013 yesterday while WTI settled at a six-month low amid signs of weaker demand and ample global oil supplies.