Crude oil prices gained in Asia on Friday as the markets shrugged off bearish factors such as ample U.S. supplies and looked ahead to prospects of renewed flareups in the Ukraine over a referendum on the sovereignty of the Crimean peninsula. In a reminder of the geopolitical risk from the Ukraine/Crimea crisis, U.S. crude oil futures reached $101.80 a barrel on Friday, bouncing from the previous days low of $100.13, as the market watched for any disruption of oil and gas supply from Russia to Europe.
Posted on: Fri, 07 Mar 2014 12:18:53 +0000
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