Oil climbs higher on Ukraine uncertainty

London - Oil prices advanced on Friday as the market won support from the ongoing Ukraine crisis and upbeat data in the United States, which is the world's top crude consumer.

Brent North Sea crude for July rose 28 cents to trade at $109.37 per barrel approaching midday in London.

The US benchmark, West Texas Intermediate (WTI) for delivery in June, added 18c to $101.68 a barrel.

Oil prices

"The political uncertainty in Ukraine continues to dominate the oil market, providing further support to crude oil prices," said analyst Myrto Sokou at the Sucden brokerage in London.

"Furthermore, the solid US economic data indicates the US economic recovery is picking up pace."

The United Nations on Friday warned of an "alarming deterioration" of human rights in eastern Ukraine, where the government is battling an insurgency by armed pro-Russian separatists.

Kiev's interim leaders have for a month been waging a military offensive against the separatists who took up arms against the central government after the ouster of the Kremlin-backed president in February.

Crude stocks

Any escalation of the conflict could severely disrupt energy supplies and send prices soaring, analysts say, because Ukraine is a vital conduit for Russian oil and gas exports to Europe.

However, Friday's oil market gains were capped by abundant US crude stockpiles and news of poor first-quarter economic growth in the eurozone.

Data in the US showed this week an oversupply of crude stocks, putting downward pressure on prices.

The department of energy said earlier that stockpiles rose 900 000 barrels in the week ending 9 May.