Brent and WTI oil price up amid drone attacks on refineries in russia – Reuters

World oil prices jumped against the backdrop of Ukrainian drone attacks on russian oil refining facilities and high demand for fuel in the United States, Reuters reports.

The cost of April West Texas Intermediate (WTI) oil futures rose 10 cents (+0.13%) to USD 79.82 per barrel in morning trading.

Brent oil also rose in price. The price of May futures jumped by 11 cents (+0.13%) to USD 84.14 per barrel.

Both WTI and Brent futures have increased by about 3% over the past 24 hours, updating the price to a four-month high.

As analysts of the Australia and New Zealand Banking Group (ANZ) said, the rise in crude oil prices is associated with a drop in gasoline stocks in the United States.

"The market also reacted to the growth of geopolitical risks after Ukrainian drones attacked a russian oil refinery," the agency quotes analysts as saying.

Bloomberg previously reported that the attacks of Ukrainian drones in recent days affected 12% of the production capacity of russian oil refineries.

As the Ukrainian News agency earlier reported, on March 12, Ukrainian drones attacked seven regions of the russian federation at once, hitting, in particular, facilities of the oil refining industry.

The Lukoil-Nizhegorodnaftoorgsintez enterprise in the Nizhny Novgorod region of the russian federation stopped working due to a drone attack.