Oil prices increase after Ukraine attacks on Russian power plant
Prices of crude oil increased yesterday hours as supply concerns emerged following Ukraine’s drone attacks on Russian energy infrastructure. Brent crude was trading at $68.65 per barrel, up 0.08% from the previous close of $67.32. The US benchmark West Texas Intermediate (WTI) rose 0.08% to $63.71 from $63.66 in the prior session. Ukraine launched a […]
Prices of crude oil increased yesterday hours as supply concerns emerged following Ukraine’s drone attacks on Russian energy infrastructure.
Brent crude was trading at $68.65 per barrel, up 0.08% from the previous close of $67.32. The US benchmark West Texas Intermediate (WTI) rose 0.08% to $63.71 from $63.66 in the prior session.
Ukraine launched a drone attack on Russia on Sunday, which forced a sharp fall in the capacity of a reactor at one of Russia’s biggest nuclear power plants, sparking a huge blaze at the Ust-Luga fuel export terminal, Russian officials said.
The Kursk facility, one of Russia’s largest, supplies electricity to 19 regions in the Central Federal District.
Separately, Aleksandr Drozdenko, governor of Russia’s northwestern Leningrad region surrounding the city of St. Petersburg, reported a fire at the terminal in the settlement of Ust-Luga following the crash of a downed drone.
These developments heightened geopolitical risk concerns, lending upward support to oil prices, according to reports.