Crude oil near $109 amid Ukraine drone strikes and conflict
Crude oil is holding steady near $109 a barrel, thanks to rising conflicts around the world.
Ukraine has started hitting Russian oil sites with drones again, sparking fires at a major export terminal.
This has kept Brent crude futures at $108.82 and US West Texas Intermediate at $101.15 per barrel. So energy markets are feeling the pressure.
Middle East tanker attacks, Iran threats
In the Middle East, two tankers were attacked near Saudi Arabia, one by a rocket-propelled grenade, another by an unknown projectile, just days after President Donald Trump announced a temporary truce between Russia and Ukraine.
Meanwhile, Iran is stepping up its threats to oil exports through key waterways like the Strait of Hormuz.
All this means more uncertainty for global energy supplies, and higher prices at the pump aren't out of the question.