The price of oil edged up closer to $103 a barrel Wednesday amid unrest in eastern Ukraine, even as a report showed a large rise in U.S. crude stockpiles.

By early afternoon in Europe, benchmark U.S. crude oil for May delivery was up 25 cents to $102.81 in electronic trading on the New York Mercantile Exchange. The contract gained $2.12 to $102.56 on Tuesday.

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