Brent oil rises to $110 on Ukraine issues; WTI gains before supply data

Brent crude climbed above $110 a barrel for the first time in six weeks on signs that the crisis in Ukraine is escalating. West Texas Intermediate gained before the release of weekly U.S. government inventory data.

Futures rose as much as 0.9 percent in London. Ukraine’s government began an offensive against separatists in its east, recapturing an airport amid claims that Russian special forces were fomenting unrest. Crude supplies at Cushing, Okla., the delivery point for WTI, fell 640,000 barrels last week, the industry-funded American Petroleum Institute said yesterday. The Energy Information Administration will release data today.