US crude prices extend gains on supply disruption concern

Crude oil futures extended their gains for the second straight day on concern of possible supply disruptions from Russia amid the escalating tensions in eastern Ukraine. Traders also took support from the report that the restart of oil shipments from Libya could be indefinitely delayed after a militia group attacked the Libyan Parliament that left at least two killed and several others injured. Geopolitical concerns mainly sent oil prices rising on fears of supply from two key markets. Benchmark crude oil futures for July delivery, gained $0.53 or 0.5 percent to close at $102.11 a barrel after trading in a range of $102.49 and $101.52 a barrel on the New York Mercantile Exchange. In London, Brent oil futures for July delivery declined by 0.14% to $109.60 a barrel on the ICE.