Crude oil clears $102 a barrel, highest in a month
The actively traded May contract rose $2.12, or 2.1 percent, to settle at $102.56 a barrel. It was the highest price for oil in a month.
The Associated Press
Crude oil prices are closing higher as tensions escalate in Ukraine.
The actively traded May contract rose $2.12, or 2.1 percent, to settle at $102.56 a barrel. It was the highest price for oil in a month. Traders worry that if tensions get too high it could jeopardize the flow of Russian oil from the region.
There were more signs of unrest in Ukraine on Tuesday. Security forces ousted pro-Russian protesters from an occupied government building in the eastern city of Kharkiv, while regional administration headquarters in Donetsk remained under protesters' control. They are demanding referendums on the regions' status, which could pave the way for further annexations by Russia.
Other energy futures also rose. Wholesale gasoline rose 5 cents to $2.98 a gallon. Heating oil rose 4 cents to $2.93 a gallon and natural gas rose 6 cents to $4.534 per 1,000 cubic feet.
Metals prices rose.
Gold for June delivery rose $10.80, or 0.8 percent, to $1,309.10 an ounce and silver rose 15 cents, also 0.8 percent, to $20.06 an ounce. Platinum for July delivery rose $13.90, or 1 percent, to $1,441.70 an ounce and June palladium rose $8.20, or 1.1 percent, to $775.85 an ounce.
May agricultural contracts closed higher.
Corn rose 8 cents, or 1.6 percent, to $5.07 a bushel. Soybeans rose 18 cents, or 1.2 percent, to $14.83 a bushel and wheat rose 5 cents, or 0.7 percent, to $6.81 a bushel.
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