Oil prices steady amid Russia-Ukraine tensions

Oil prices steadied on Monday as escalating Russia-Ukraine tensions that could affect energy supplies heading West offset an expected resumption to Libyan crude exports, analysts said. US benchmark West Texas Intermediate (WTI) for delivery in May fell 19 cents to $103.55 a barrel compared with Friday's close. Brent North Sea crude for May edged up five cents to stand at $107.38 a barrel around midday in London. Analysts said the oil market was spooked after Ukraine's acting President Oleksandr Turchynov on Sunday accused Russia of waging war in his country's east and declared the launch of a "full-scale anti-terrorist operation" that left at least two dead. At United Nations Security Council talks, Russia blamed the rising tensions on the pro-Western interim government in Kiev, while Britain, France and the United States pointed the finger at the Kremlin. "The weekend news of rising tensions in eastern Ukraine and Russia have helped support the gains in Brent and WTI prices," Desmond Chua, market analyst at CMC Markets, told AFP.