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Oil resumes rally as Russia-Ukraine tensions stay high

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By David Gaffen NEW YORK (Reuters) -Oil prices rose more than 1% on Wednesday as investors weighed conflicting statements on the possible withdrawal of some Russian troops from around Ukraine. Futures fell after the settlement, however, after U.S. and Iranian officials said they were much closer to an agreement on the latter’s nuclear weapons development that would allow it to ramp up global oil sales. Russia’s threatening posture toward Ukraine has dominated oil markets for several weeks, with concerns that supply disruptions from the major producer in a tight global market could push oil pri…

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