Brent rises on worries over Ukraine, Libya

May 27, 2014

Brent crude rose towards $111 per barrel on May 27 amid supply disruption worries as Ukraine launched air strikes to put down a separatist revolt and Libya struggled to rein in rebels, Reuters has reported.

Heightened geo-political risks have helped Brent gain more than 6 percent since hitting this year's low of $103.95 in early April. Investors are now awaiting a slew of economic indicators from the United States and Europe to gauge the demand outlook for oil and assess the benchmarks' price direction.

Brent crude gained 22 cents to $110.54 a barrel by 0352 GMT, less than $2 away from the high for the year of $112.39. U.S. oil was up 3 cents at $104.38.

Copyright: Reuters, 2014