** People rescuing an injured passenger from inside a passenger bus hit by a truck on Dhaka-Mawa Expressway in Shologhar area of Shreenagar upazila in Munshiganj on Thursday. ** Motorcycles allowed on Padma Bridge after 10 months ** Commuters charge extra fare, passengers disappointed ** 78 people killed in Yemen stampede ** Moon sighting committee meets today to ascertain Eid day ** 9 killed in road accidents in 3 districts ** US announces new $325 m military aid package for Ukraine ** Eid-ul-Fitr in Saudi Arabia today ** Eid exodus begins ** LPG price cut illusive ** 15 hurt as bus overturns in capital ** New interbank cheque clearing timings set for Eid holidays ** Four women hit by a train die in Tangail ** 12.28 lakh SIM users left Dhaka on Tuesday ** Sylhet engineer threatened over power outage ** People rush to village homes to spend Eid holidays with their near and dear ones. This photo was taken from Sadarghat Launch Terminal on Tuesday. NN photo ** Surge in cases of dehydration, diarrhoea amid summer heat wave ** Padma Bridge construction cost increases by Tk 2,412cr ** PM gives Tk 90m to Bangabazar fire victims ** Textile workers block highway demanding wage, Eid bonus ** Attack on PM's motorcade Ex-BNP MP, 3 others get life term ** Load-shedding increases for demand of electricity during heat wave ** Motorbikes to be allowed on Padma bridge from Thursday ** 5-day Eid vacation begins from today ** Take Nangalkot train accident as a warning about negligence of govt functionaries **

Oil prices surge as Ukraine mobilises army

04 March 2014

AFP, Singapore :
Oil prices surged in Asian trade Monday as Ukraine's Western-backed government mobilised the army with Russia poised to invade.
New York's main contract, West Texas Intermediate (WTI) for April delivery, gained $1.20 to $103.79 in mid-morning trade, and Brent North Sea crude for April jumped $1.48 to $110.55.
Lawmakers in Moscow voted Saturday to allow President Vladimir Putin to send troops into Crimea, a predominantly Russian-speaking peninsula in the southeast of Ukraine following the ouster of its pro-Russian government last week.
In what has become the most serious crisis since the end of the Cold War, global leaders condemned the move as Ukraine's new prime minister, Arseniy Yatsenyuk,warned: "We are on the brink of a disaster."
Desmond Chua, market analyst at CMC Markets in Singapore, said that the escalating tension in Ukraine is providing strong support for oil prices.
"Considering that Ukraine is part of the supply chain for Brent, we are looking at this pent-up risk premium resulting in overshooting prices," Chua told AFP.
"Right now we would have our eyes on Ukraine, on the situation in Crimea... I do think that at least for the next couple of days this situation will be superseding any other market data," Chua added.
Gunmen believed to be acting under Kremlin orders have already tightened their grip on Crimea, seizing government buildings and surrounding Ukrainian military bases.
JP Morgan Commodities Research analysts noted that Ukraine is neither a major oil producer nor oil consumer but it said it is an important transit country for Russian energy exports.
More than 70 percent of Russia's gas and oil flows to Europe pass through its territory. In turn, Europe is the buyer for nearly 90 percent of Russia's oil exports.

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