Investing.com - Crude futures rose on Tuesday amid ongoing concerns that geopolitical tensions in Ukraine and Libya will disrupt global supply.
On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in July traded at $102.16 a barrel during U.S. trading, up 0.05%. New York-traded oil futures hit a session low of $101.53 a barrel and a high of $102.47 a barrel.
The July contract settled up 0.44% at $101.58 a barrel on Friday.
Nymex oil futures were likely to find support at $101.82 a barrel, Thursday''s low, and resistance at $104.99 a barrel, the high from April 16.
Geopolitical concerns sent oil prices rising on fears supply from two key markets, Russia and Libya, may face disruptions.
Ukrainian forces and pro-Russian separatists in the eastern reaches of the country continued to clash on this week, which rattled nerves in energy markets.
Ukraine will hold elections on Sunday, and concerns persist that Russia will meddle in the voting and escalate the crisis and affect shipments out of Russia, the world''s second-largest exporter after Saudi Arabia.
Elsewhere, tensions in Libya flared after gunmen stormed parliament on Sunday in some of the worst violence the country has seen since the 2011 war that ousted Muammar Qaddafi.
While the government and protesters recently agreed to reopen oilfields and ports, concerns the deal will fall through pressured prices higher, especially on news that French and Algerian oil companies are evacuating employees out of the country.
Elsewhere, on the ICE Futures Exchange in London, Brent oil futures for July delivery were up 0.40% and trading at US$109.81 a barrel, while the spread between the Brent and U.S. crude contracts stood at US$7.65 a barrel.
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