Crude oil futures end at a near three-week high on Tuesday

Crude oil futures extended their gains on Tuesday for a second straight session, to end at a near three-week high. Prices rose mainly on fear that Ukraine unrest will escalate and affect Russian oil exports with pro-Russian separatists now seeking to become a part of Russia, after claiming victory in a referendum for self-rule last week end. And also on growing concerns that a deal between Libya and rebels to reopen oil ports will fall through, thus crimping global supply. Benchmark crude oil futures for June delivery gained $1.11 or 1.1 percent to close at $101.70 a barrel after trading in a range of $101.71 and $100.36 a barrel on the New York Mercantile Exchange. In London, Brent oil futures for July delivery were up 0.37 percent to $108.19 a barrel on the ICE.