Brent crude oil futures rose on Thursday as sanctions against Russia injected a new risk premium into the market while stock market strength also provided support. US crude futures fell ahead of the April contract's expiry. The US expanded sanctions to 20 more prominent Russians, including allies of Russian President Vladimir Putin, in the latest sign of mounting tensions over Moscow's annexation of Crimea. Russia retaliated with its own sanctions against nine US officials and lawmakers. US equities, meanwhile, reversed Wednesday's slump to rise after economic data showed stronger-than-expected factory growth. Markets fell on Wednesday after the US Federal Reserve said its stimulus program would end and interest rates would rise sooner than expected (IOD Mar.20'14).
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