Oil rises on renewed Ukraine tensions

Published May 16, 2014 11:18am ET



The price of oil edged up closer to $102 a barrel Friday amid renewed tensions in Ukraine.

By early afternoon in Europe, benchmark U.S. crude for June delivery was up 17 cents to $101.67 a barrel in electronic trading on the New York Mercantile Exchange. On Thursday, the Nymex contract fell 87 cents to close at $101.50.

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