Oil prices rose after Ukraine stepped up attacks on russian energy facilities, raising concerns about a possible reduction in russian oil supplies.
Ekonomichna Pravda reported this with reference to Reuters.
The report said that Brent futures rose by 3 cents, or 0.04%, to USD 67.76 per barrel.
U.S. WTI futures added 7 cents, or 0.11%, to USD 63.73.
On Sunday, Ukraine carried out a drone attack on russia, causing a sharp drop in the power of one of the reactors at one of russia's largest nuclear power plants and a large-scale fire at an export fuel terminal in Ust-Luga, russian officials said.
The acting governor of the Rostov Oblast said that the fire at the Novoshakhtinsky refinery, which is in its fourth day, was caused by an attack by Ukrainian drones.
The plant produces fuel mainly for export, its annual capacity is 5 million tons of oil, or about 100,000 barrels per day.
"Given Ukraine's success in damaging Russian oil infrastructure, risks for the crude oil market are shifting towards rising prices," said IG analyst Tony Sycamore.
Meanwhile, US Vice President J.D. Vance said that russia had made "significant concessions" on the way to a negotiated settlement of the war against Ukraine.
"They have recognized that they will not be able to establish a puppet regime in Kyiv - this was their main demand at the beginning. And, importantly, they have agreed to some guarantees of the security of the territorial integrity of Ukraine," Vance said on NBC.
It is noted that US President Donald Trump on Friday again threatened sanctions against russia if there is no progress in a peaceful settlement within two weeks.
Investors became more risk-averse after Federal Reserve Chairman Jerome Powell on Friday hinted at a possible rate cut at the central bank's next meeting.
"Optimism in the markets fueled investor appetite for raw materials, which was also helped by new disruptions in energy and metals supplies," ANZ analysts said.
As the Ukrainian News agency earlier reported, oil prices fell on August 11, extending a decline of more than 4% in the previous week, as investors awaited the results of talks between the US and russia on the war in Ukraine, which were due to take place later.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.