Increase in oil prices after Ukraine's attack on Russian infrastructure

• Oil prices rose due to Ukraine's attacks on Russian facilities.
• Attacks reduced production at nuclear and oil refinery facilities.
• The Vice President of the USA reported on Russia's concessions in negotiations.

This is reported by RBC Ukraine, Ukrayinska Pravda.

Oil prices increased on Monday after Ukraine's attack on Russian energy infrastructure. This has led to concerns about possible disruptions in the supply of Russian oil, as reported by Reuters.

Brent crude oil prices fell by 3 cents, or 0.04%, to $67.76 per barrel, while WTI rose by 7 cents, or 0.11%, to $63.73 per barrel.

On August 24, Ukraine carried out drone attacks on Russian facilities. This resulted in reduced production at one of Russia's largest nuclear reactors and caused a massive fire at the export terminal in Ust-Luga.

In addition, the oil refinery in Novoshakhtinsk, which has a capacity of nearly 100,000 barrels per day, has been affected by the attacks for the fourth consecutive day.

Analyst IG Tony Sycamore noted: "Considering Ukraine's successes in targeting Russian oil infrastructure, the risks for oil are increasing significantly."

Meanwhile, Vice President of the USA J. D. Vance stated that Russia has made "significant concessions" in negotiations regarding the resolution of the war in Ukraine. He emphasized that Russia recognized the impossibility of establishing a marionette regime in Kyiv.

President Donald Trump again threatened sanctions against Russia, stating that if progress is not made in peace negotiations within two weeks, sanctions will be imposed.

Investor sentiments improved following reports from the head of the Federal Reserve, Jerome Powell, about a possible reduction in interest rates at the next meeting.

Ukrainian drone attacks, which resumed in August, have targeted some of the largest Russian oil refineries, which may cause significant disruptions in the industry.

Tags: Ukraine/Energy