West TX Oil near $105 on Ukraine, Libya uncertainty

U.S. crude futures held above $104 a barrel on Tuesday, following market holidays the previous day, as geopolitical tensions in Ukraine and uncertainty over OPEC producer’s Libya production continued.

U.S. crude futures for July delivery fell 7 cents to $104.28 a barrel by 0023 GMT, after finishing on Friday at its highest since April 21.  Market activity was limited with the U.S. and UK markets closed for holidays on Monday.

Ukraine launched air strikes and a paratrooper assault against pro-Russian rebels who seized an airport on Monday, as its newly elected leader rejected any talks with “terrorists” and said a robust military campaign in the east should be able to put down a separatist revolt in “a matter of hours”.


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