News Column

Crude Oil Holds Above USD100 As Ukraine Referendum Looms

May 9, 2014

WASHINGTON (Alliance News) - Crude oil prices are slightly higher Friday morning amid lingering concerns about the ongoing unrest in Ukraine.

Russian separatists are reportedly planning to go ahead with a referendum on sovereignty this weekend despite objections from the Kremlin.

Crude oil futures for June delivery are up USD0.29 or 0.29% at USD100.56 a barrel, after rising to USD101.15 a barrel earlier.

Meanwhile, natural gas for June is up USD0.005 or 0.12% at USD4.578 per million btu.

Investors will be looking ahead to the US Commerce Department's data on wholesale inventories for March, due at 10 am ET. Economists expect wholesale inventories to have risen by 0.5% month-over-month.

At 12 pm ET, Dallas Federal Reserve Bank President Richard Fisher is scheduled to speak on monetary policy, in New Orleans.

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Source: Alliance News

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