Crude futures snap two days losing streak

Crude oil futures snapping their two days losing streak ended higher on Monday, supported by ongoing unrest in Ukraine with pro-Russian separatists claiming victory in the Sunday referendum, and also on the impasse in Libya over its oil shipments. There was prospect of Russia being subjected to new sanctions as tensions over Ukraine intensify, underlining concerns over a disruption to supplies from the region. Benchmark crude oil futures for June delivery gained $0.60 or 0.6 percent to close at $100.59 a barrel after trading in a range of $100.93 and $99.93 a barrel on the New York Mercantile Exchange. In London, Brent oil futures for June delivery gained 0.43 percent to $107.74 a barrel on the ICE.