Crude Oil Holds Near $64.50 Amid Russia-Ukraine Tensions and Supply Risks
Trading Economics
What’s Driving It:
Ukraine Attacks on Russian Infrastructure: Ukrainian drone strikes have targeted critical export terminals and refineries in Russia — including Primorsk and Kirishi — raising fears that supply could tighten.
Supply Risk Overhang: Russia’s pipeline company Transneft has warned of possible cutbacks if damage continues to hamper export capacity and storage options.
Market Sentiment Cautious: While geopolitical risk is supporting prices, demand indicators—especially from major consuming markets—remain subdued, restraining any large upward price movement.
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