Oil prices surged on Tuesday due to concerns over potential supply disruptions from Russia following drone attacks on its refineries. Brent crude futures increased 1.53% to $68.47 a barrel, while US West Texas Intermediate crude rose 1.93% to $64.52 a barrel. The attacks on Russian energy infrastructure aim to limit the country’s ability to sell oil abroad and have disrupted refining capacity by an estimated 300,000 barrels per day. Analysts also point to the prospect of a US Federal Reserve interest rate cut in September, which could boost fuel demand but also raise concerns about the overall health of the US economy.
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Source: https://www.cnbc.com/2025/09/16/oil-steadies-as-market-weighs-russia-supply-risk-and-us-rate-decision.html