Oil Jumps After Drones Strike Russian Terminal
Oil prices rose on Friday after a Ukrainian drone attack on a Russian port suspended loadings, outweighing pressure from oversupply concerns and weaker U.S. demand risks.
Brent crude futures rose $1.01, or 1.52%, to $67.38 a barrel by 11:32 a.m. CDT, (1632 GMT) and U.S. West Texas Intermediate crude gained 56 cents, or 0.9%, to $62.93.
The drone attack on Russia's northwestern port of Primorsk, one of the country's largest oil and fuel export terminals, led to a suspension of oil loading operations overnight, an official from Ukraine's SBU security service said...
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