Price of WTI crude oil up 3% as Ukraine crisis intensifies

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 A pumpjack sits on the outskirts of town at dawn in the Permian Basin oil field in the oil town of Midland, Texas. (Photo by SPENCER PLATT / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

New York’s West Texas Intermediate crude contract rose more than three percent on Tuesday as Russian President Vladimir Putin ordered troops to deploy in separatist areas of Ukraine.

WTI Crude rose 3.14 percent to $93.93 per barrel in early Asian trade, while Europe’s benchmark Brent North Sea crude was up 1.98 percent at $95.39 per barrel.

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