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Ukraine's Energy Challenge

Reuters: Oil rises close to $110 on mounting Ukraine tension

By Reuters.
The European Union scrambled for solutions to ease its dependence on Russian gas and help supply Ukraine on April 15 according to Reuters. Russia supplies 30 percent of Europe's gas needs.

Global oil prices rose close to $110 a barrel on Wednesday due to mounting tensions in Ukraine, but gave up some gains after an unexpectedly large build in crude stocks in the United States, the world's largest consumer of oil.

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