15
Oil prices were rising as the EU targets Russia’s oil supplies and Ukraine intensifies its attacks on Russian energy infrastructure, MUFG’s Soojin Kim wrote.
In morning trade in Europe, Brent crude traded up 0.5% at $67.1 a barrel, while WTI rose 0.5% to $63.01 a barrel. The bloc’s new sanctions package targets refineries and petrochemical firms in third countries that facilitate Russian oil sales.
Meanwhile, Ukraine escalated drone attacks by hitting refineries and an oil pipeline deep in Russian territory over the weekend, Kim added.
