WTI Crude Rises to Five-Month High on Ukraine
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West Texas Intermediate crude surged to a five-month high as Brent advanced amid escalating tension between Ukraine and Russia, the world’s biggest energy exporter.
WTI climbed 2.3 percent. Ukraine mobilized its army reserves as Russia seized control of the Black Sea region of Crimea. The U.S. is weighing sanctions against Moscow during the worst standoff between the West and Russia since the Cold War ended. Futures also gained on speculation that supplies at Cushing, Oklahoma, slid for a fifth time last week.