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Brent Gains as Ukraine Tensions Offset Libya Supply; WTI Rises

Brent crude advanced as escalating tensions between Ukraine and Russia, the world’s biggest energy exporter, offset the potential for increased Libyan supply. West Texas Intermediate traded between gains and losses.

Futures in London increased as much as 1 percent to the highest intraday level since March 28. Russia called for an emergency meeting of the United Nations Security Council after Ukrainian security forces clashed with pro-Russian gunmen in the eastern town of Slovyansk. The port of Zawiya in western Libya reopened and a tanker will load at Hariga in the east, industry officials in the holder of Africa’s biggest oil reserves said yesterday.