Oil prices drop as Russia bounces back after drone attack
Oil prices slipped on Monday after Russia got its Black Sea oil exports moving again, following a two-day pause caused by a Ukrainian attack.
Brent crude fell to $63.81 a barrel and US WTI dropped to $59.50, after the brief shutdown disrupted about 2% of global supply.
Ukraine steps up attacks, raising supply worries
Ukraine has been targeting Russian energy sites more aggressively, hitting refineries in Ryazan and Samara over the weekend.
These strikes have investors worried about future disruptions and highlight just how tense things remain between the two countries.
OPEC+ tweaks output as new sanctions loom
OPEC+ is adding a small bump—137,000 barrels per day—to oil production for December but won't increase further in the first quarter of next year.
Meanwhile, fresh Western sanctions on Russian oil giants Lukoil and Rosneft kick in after November 21.
Analysts think oil prices will stick close to $60 for now, with some ups and downs likely due to ongoing supply pressures.