West Texas Intermediate crude advanced to the highest level in more than two weeks after supplies at Cushing, Oklahoma , the delivery point for the contract, reached a two-year low. Brent gained in London . WTI rose 1 percent. Cushing supplies fell 1.33 million barrels last week to 28.5 million, the Energy Information Administration said yesterday. President Barack Obama said yesterday that the crisis in Ukraine may escalate and warned that sanctions on Russia may include the energy sector. WTI’s gain also narrowed the discount to Brent. “The continuing depletion of supplies at Cushing is on everyone’s mind,” said John Kilduff , a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “We’re seeing the WTI-Brent spread come in as a result. There’s speculation that Cushing supplies could get below operational rates.” WTI for May delivery gained $1.02 to $101.28 a barrel on the […]