Oil prices rose on Tuesday as markets weighed a potential disruption of supplies from Russia due to Ukrainian drone attacks on its ports and refineries as well as the prospect of a U.S. central bank interest rate cut.
Brent crude futures were up 67 cents, or 1%, to $68.11 a barrel at 1318 GMT, while U.S. West Texas Intermediate crude was at $64.12, up 82 cents, or 1.3%. On Monday, Brent settled up 45 cents at $67.44, while WTI settled 61 cents higher at $63.30.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.