Commodity prices gained as Ukraine tensions escalated with Russia’s foreign minister, Sergei Lavrov, stating that the Ukraine “is as close to a civil war as you can get”. Investors were concerned that the crisis would disrupt oil supply to a number of European countries. The front-month contract for WTI crude oil rose for a third consecutive day and settled at 102.37, up +0.66%, while the Brent crude contract soared to as high as 110.41 before ending the day at 110.19, up +0.87%. Gold also firmed on safe-haven demand with the benchmark Comex contract rising 1309.2 before settling at 1305.9, up +0.86%.
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Commodities Strengthened as Ukraine on the Verge of Civil War
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