Futures on West-Texas Intermediate Oil (OIL.WTI) are moving higher today as traders weighed risks to Russian supply from Ukrainian drone strikes. Russia’s Transneft warned producers about potential output cuts after repeated Ukrainian attacks on export terminals and refineries.
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Analysts noted that strikes on key facilities such as Primorsk are aimed at curbing Russia’s export capacity and could put upward pressure on global prices.
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Goldman Sachs estimated around 300,000 barrels per day of Russian refining capacity was knocked out in August and early September.
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Despite sanctions risks, Asian buyers continue to signal interest in Russian crude, limiting the expected fall in production.
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The U.S. has so far resisted additional tariffs on China for purchasing Russian oil, unless Europe introduces similar measures against China and India.
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U.S. crude inventories likely fell by 6.4 million barrels last week, reversing a prior build, with official EIA data due on Wednesday.
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Analysts cited by Reuters expect U.S. crude and gasoline stockpiles to decline, while distillates may show an increase.
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Markets are also watching the Fed’s September 16–17 meeting, where rate cuts are widely expected, though concerns remain about U.S. economic strength.
OIL.WTI (H1 interval)
Source: xStation5
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