Oil Prices Rise After Ukrainian Strikes on Russian Energy
Oil prices inched higher after Ukrainian drone attacks on Russian energy facilities sparked supply concerns. Brent crude was trading near $67.76 per barrel, while U.S. West Texas Intermediate (WTI) reached about $63.73.
Damage to Russian Facilities
The strikes targeted major infrastructure, including a reactor at a Russian nuclear plant, the Ust-Luga fuel export terminal, and the Novoshakhtinsk refinery, which processes close to 100,000 barrels per day. Fires at some facilities continued for days, disrupting operations.
Supply and Investor Sentiment
Analysts said the attacks add upside risks to oil supply in the short term. At the same time, investor optimism grew on expectations that U.S. interest rates may be cut soon, further supporting oil market sentiment.
Broader Geopolitical Context
U.S. Vice President J.D. Vance indicated Russia has been making concessions in peace talks with Ukraine, though President Trump warned that sanctions could intensify if no breakthrough is achieved. The combination of conflict risks and policy signals has kept energy markets on alert.
