Brent crude ticked higher Monday following the weekend’s contentious referendum in Ukraine, but gains were limited by indications of ample supply. The unofficial referendum in one Ukrainian province raised the prospect of deteriorating relations between Russia and the West, but Saudi Arabia said it would increase output should there be any disruption to supply from Russia. Brent June crude is up 0.5% at $108.41 a barrel on ICE Futures Europe. June crude is up 0.3% at $100.31 a barrel on the New York Mercantile Exchange. “Further price strength in Brent crude oil may be limited given a big rebound in non-OPEC output, improved prospects for OPEC supplies and no acceleration in global oil demand growth,” Bank of America Merrill Lynch wrote in a note to clients. The bank sees Brent prices averaging $106 a barrel in 2014. Recently, ICE Gasoil was up $2 at $903.75 a metric ton. Gasoline […]