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Brent Oil Falls From One-Week High After Crimea Vote; WTI Slips

Brent crude declined from the highest closing price in a week on speculation that Crimea’s vote to split from Ukraine is unlikely to lead to a disruption in oil supplies.

Futures declined as much as 1 percent in London, after climbing on March 14. The U.S. and the European Union warned Russia not to annex Crimea after the referendum, setting the stage for sanctions against the world’s biggest energy producer. Libya’s production fell after protesters closed a pipeline carrying crude from Sharara, the country’s second-largest field, according to state-run National Oil Corp.