Published: Wednesday, 5 Mar 2014 | 10:58 AM ET

By: Reuters with CNBC.com

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Brent crude fell for the second straight session on Wednesday, dropping below $109 a barrel on an easing of fears that Russia's incursion into Ukraine could lead to war.

Brent is now more than $3 below a two-month high hit at the start of the week following Russia's seizure of Ukraine's autonomous Crimea region, with prices having retraced all the gains seen on Monday.

Crude added to the session's losses after U.S. crude inventories rose, as gasoline and distillate stockpiles dropped. The Energy Information Administration reported oil stockpiles jumped by 1.4 million barrels, while gas and distillates fell by 1.6 million barrels and 1.4 million, respectively.

U.S. crude for April delivery was down more than $1 near $102, after falling $1.59 on Tuesday. The U.S. contract hit its highest since Sept. 20 on Monday at $105.22. Its discount to Brent narrowed to as little as $5.59 on Wednesday, the smallest gap since October.

April Brent was down nearly $1 around $108 a barrel, extending Tuesday's $1.90 drop. The contract hit $112.39 a barrel on Monday, its highest since Dec. 30. Crude held losses after data showed private payroll growth was less than expected in February.

Murkowski: Expand sales of U.S. oil abroad now

Senator Lisa Murkowski (R-Alaska) speaks to CNBC's Sharon Epperson about her call to expand oil exports from the United States. She also discusses the importance of the Keystone pipeline.

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Oil sheds all of Ukraine-inspired gains

Ibrahim Yagan sheds light on Circassia today
February 14, 2014 Ibrahim Yagan presenting at the Carnegie Endowment for International Peace. Chairman of the civil movement Khasa. His paper is titled: "The...

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Lobster sheds its skin
Lobster sheds its skin .

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"After a rough start to the year, February was very strong and many indexes achieved new highs," remarked Schaeffer's Senior Equity Analyst Joe Bell, CMT. "Well, the unsettling situation in Ukraine and the evolving situation between Russia and the rest of the world has taken center stage and created a lot of uncertainty. The markets don't like uncertainty, and selling is usually the quickest solution for your average investor. That's exactly what we saw today, as many participants simply unloaded their positions." With sellers holding the reins, the Dow Jones Industrial Average (DJI) spent the day trekking lower, ultimately closing with a triple-digit loss.

Continue reading for more on today's market, including :

The Dow Jones Industrial Average (DJI - 16,168.03) headed lower out of the gate and traded in negative territory for the entire session, hitting an intraday low of 16,071.25 and finally closing down 153.7 points, or 0.9%. It was the blue-chip index's worst single-day loss since Feb. 3. All 30 Dow components were lower on the day, but the best performer on a relative scale was The Home Depot, Inc. ( HD ), which only dropped a fraction of a point. Visa Inc ( V ) was at the back of the pack, down 2% today.

The S&P 500 Index (SPX - 1,845.73) declined 13.7 points, or 0.7%, to move south of the psychologically important 1,850 level. The Nasdaq Composite (COMP - 4,277.30) logged a drop of 30.8 points, or 0.7%.

The CBOE Volatility Index (VIX - 16.00) surged 2 points, or 14.3%, today, amid rising uncertainty and heightened selling pressure across equity indexes. The VIX hadn't closed north of 16 since Feb. 6.

A Trader's Take :

"Gold and bonds are starting to see considerable interest, as investors rushed to potential safe havens," noted Bell. "One other bright spot for today's market was the outperformance of the materials sector, which was mainly due to the strong day from gold miners."

5 Items on Our Radar Today :

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Dow Sheds 154 Points as Geopolitical Concerns Dominate Headlines

Spy plane used to find beds in sheds in Harrow's gardens

5:28pm Monday 3rd March 2014 in News By Bruce Thain

Spy plane technology has been used to map the borough and find more than 300 suspected cases of beds in sheds.

Harrow Borough Council employed the use of the plane to detect illegal developments at the ends of gardens which are then rented out.

Before the plane went up planning officers estimated there were 75 cases of beds in sheds in Harrow.

Now there is a list of 319 potential cases after the evening flight where the plane captured shots of the borough with a thermal imaging camera.

Yellow areas of colour in the images show buildings with uninsulated roofs which could possibly be one of the illegal structures.

Leader of the council Susan Hall said: The pressures of migration in London, fuelled by recent waves of new arrivals from Eastern Europe, are creating new stresses on local authorities that we just havent had to contend with before.

What was once thought even just 18 months ago to be a problem for the centre of big cities is now rippling out to the suburbs.

The beds in sheds phenomenon means there is a hidden community springing up in the back gardens of our cities in our borough alone the thermal pictures we receive suggest there are four times as many as we first suspected.

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Spy plane used to find borough's beds in sheds

The swirling rumors of the weekend proved precognizant: Monday afternoon, Microsoft head Satya Nadella confirmed that Tony Bates, Microsoft's executive vice president of business strategy and evangelism (and one-time Skype CEO) is leaving the company, as is marketing EVP Tami Reller. Both were members of Microsoft's senior leadership team.

The shakeup is interesting for a few different reasons, as PCWorld already covered this morning. Beyond Bates' departurewhich was somewhat expected given that he was a top contender for the CEO role assumed by Satya Nadellathe moves result in the ouster of the last of the big brain trust responsible for Windows 8.

Tami Reller.

One-time Windows co-chief Reller joins Steven Sinofsky, Jon DeVaan, and Grant George as a high-profile exit following the release of Microsoft's dramatically reimagined vision for Windowsa reimagining that's now being dialed back. Julie Larson-Green, Reller's partner in Windows presidency post-Sinofsky, has since been reassigned to the newly created "chief experience officer" role in the Applications and Services division.

Reller also reportedly clashed with Scroogled mastermind Mark Penn, who held a role similar to hers.

As expected, advanced strategy EVP Eric Rudder is taking over Bates' responsibilities on an interim basis. Chris Capossela is replacing Reller as chief marketing officer, while Penn is assuming a new role as the chief strategy officer, apparently leaving his former advertising and marketing duties by the wayside. Does that mean Scroogled is dead? One can only hope.

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It's official: Microsoft sheds Bates, Reller from senior leadership team

Published: Tuesday, 3/4/2014

BY MARLENE HARRIS-TAYLOR BLADE STAFF WRITER

Melissa Paskvan believes she is a breast cancer survivor today because she didnt listen to her doctors advice nearly five years ago.

The 45-year-old Toledo woman discovered a lump by chance in 2009 while scratching an itch on her ribs just beneath her breast.

But when the mammogram came back negative, her original doctor told her it was probably just a cyst and that she probably shouldnt be too alarmed.

He was really reluctant, and he didnt push to get it looked at. Im glad I didnt listen, Ms. Paskvan said.

She had an ultrasound that showed a 2-centimeter growth, and she insisted that he take a biopsy of the growth immediately.

Two days later, the lab confirmed her suspicion that the mass was cancerous.

Ms. Paskvan soon learned that she was suffering from a very rare, aggressive form of breast cancer called Triple Negative Breast Cancer.

I knew there was something there. I had a gut feeling. You have to be an advocate for your own body, she said.

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Program sheds light on rare cancer