Oil prices stayed near recent highs on Sunday as traders weighed a Ukrainian bombing of Russian oil facilities and fresh tanker attacks in the Persian Gulf. Brent crude fell to $108.82 per barrel, while WTI dropped to $101.15.
Crude oil prices hovered near recent highs on Sunday as traders weighed a Ukraine bombing of oil facilities in Russia and more tankers coming under attack in the Persian Gulf.
Brent crude futures, the international benchmark, shed $1.04 to $108.82 per barrel. U.S. West Texas Intermediate lost 26 cents to $101.15 per barrel.
Ukraine hits a St. Petersburg oil terminal
Fires broke out at an oil terminal and depot in St. Petersburg after Ukraine launched a wave of drone strikes on Sunday, St. Petersburg Gov. Alexander Beglov said in a post on Telegram. The terminal exports about 120,000 barrels per day of refined products, mostly fuel oil, according to Kpler data. It is unclear how bad the damage is.
Ukraine had briefly paused strikes on Russian energy facilities after President Donald Trump declared on Oct. 11 that Kyiv and Moscow had agreed to a truce. But Russia kept striking Ukrainian energy infrastructure, and Zelenskyy said last week that Kyiv would resume strikes on Russian facilities in retaliation.
Tankers attacked in the Persian Gulf
In the Middle East, two tankers were attacked off the coast of Saudi Arabia on Friday, according to the United Kingdom Maritime Trade Operations Centre (UKMTO). A small boat fired a rocket-propelled grenade at an unidentified tanker 78 nautical miles northeast of Al Jubayl. Another tanker, the ST3, was hit by an unknown projectile, UKMTO reported.
Iran has escalated attacks on tankers in the Persian Gulf, Strait of Hormuz and Gulf of Oman in an effort to choke off crude oil exports from the region.
Source: CNBC
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