LCU:Crude Oil Below USD99 As Crimea Votes To Join Russia
WASHINGTON (Alliance News) - Crude oil prices drifted lower Monday morning, even as Crimea voted overwhelmingly to secede from the Ukraine and join Russia. Analysts do not expect crude oil supplies from the region to be interrupted.
US Crude for April is down USD0.25 or 0.25% at USD98.64.
Crude futures touched a yearly peak of near USD105 a barrel early this month, but surrendered much of the gains with concerns over China growth and the possibility of a US slowdown.
Data showing a more than expected rise in US oil inventories contributed as well to oil's fall from its yearly high.
The US has taken control of a tanker full of oil loaded in Libya, the Pentagon confirmed. Libyan militia members were trying to sell the oil on the black market.
Natural Gas is up USD0.112 or 2.52% at USD4.537 per million btu, still some way off from a 3-year peak of USD5.
