Oil prices remain near recent highs as Ukraine strikes Russian energy facilities and tankers are attacked in the Persian Gulf.
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01Summary
- 01Brent crude fell $1.04 to $108.82 a barrel; US WTI dropped 26 cents to $101.15.
- 02Ukraine launched drone strikes on an oil terminal and depot in St. Petersburg, causing fires.
- 03The St. Petersburg terminal exports about 120,000 barrels per day of refined products, mostly fuel oil.
- 04Two tankers were attacked off the coast of Saudi Arabia in the Persian Gulf on Friday.
- 05Iran has escalated attacks on tankers in the Persian Gulf, Strait of Hormuz and Gulf of Oman.
02Why it matters
This matters because higher oil prices feed into fuel and energy costs for consumers and businesses, and the supply disruptions could push prices even higher.
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