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Brent falls as Ukraine election tensions ease

Poroshenko promised to bring peace to a united Ukraine after winning over half of the vote

Brent prices eased at the end of May as pro-European candidate Petro Poroshenko swept to victory in Ukraine’s first presidential elections since Russia’s annexation of Crimea.  Poroshenko vowed to end violence and bring peace to a united Ukraine after winning around 54% of the vote. Brent was trading around $110.25 per barrel (/b) on 27 May, down from just under $111/b on 22 May. WTI also fell by 17 cents on the morning of 26 May, to $104.18/b, ahead of a US public holiday. Oil prices were supported in April by ongoing tensions between Russia and Ukraine, supply outages in Libya and northern Iraq and increased crude buying from refiners ahead of seasonal maintenance periods. These factors

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