West TX Oil at $103.50 on Geopolitical Tensions

U.S. crude oil futures held below $103 a barrel on Thursday after investors took profits ahead of a government report expected to show a build in crude stockpiles, but gained some support from tensions in Libya and Ukraine.

U.S. crude futures for July delivery rose 25 cents to $102.97 a barrel by 0003 GMT, after finishing $1.39 lower on Wednesday.

Libya’s acting prime minister, Abdullah Al-Thinni, on Wednesday refused to hand over power to a newly elected premier after questioning his legitimacy in a deepening confrontation among the OPEC nation’s rival factions.

CNBC

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