Global oil prices rise as Ukraine hits Russian energy facilities
Oil prices inched higher this Monday after Ukraine launched drone strikes on Russian energy facilities the previous day.
Brent crude is now at $67.79, and West Texas Intermediate sits at $63.75.
The attacks targeted key sites like nuclear plants and fuel terminals, making people worry about possible oil supply disruptions.
Ukraine's strikes trigger fires at key sites
Ukraine's strikes triggered fires at Russia's Ust-Luga terminal and Novoshakhtinsk refinery. The Novoshakhtinsk refinery, which is important for exporting oil, has a capacity of about 100,000 barrels a day.
At the same time, hopes that the US Federal Reserve might cut interest rates gave markets a bit of optimism about future demand.
Meanwhile, things are tense between the US and Russia: President Trump just threatened new sanctions if there's no progress toward peace with Ukraine in two weeks, keeping global energy markets on edge.