Oil Futures Rises on Supply Risks, Eyes U.S. Data & API Report


   
Miguel E. Andujar
DTN Analyst

   DAVENPORT, FL (DTN) -- Oil prices finished slightly higher Monday, with 
markets digesting ongoing supply risks from Russian infrastructure attacks 
while looking ahead to key U.S. economic data tomorrow and the American 
Petroleum Institute (API) inventory report tomorrow afternoon.

   NYMEX-traded WTI for October delivery settled at $63.30 per barrel, up by 
$0.61 from the morning's $62.69. ICE Brent for November delivery closed at 
$67.45 per barrel, gaining $0.46 from its $66.99 open. October RBOB gasoline 
futures rose by $0.0280 to $2.0134 per gallon, and the front-month ULSD 
contract inched up by $0.0411 to $2.3311 per gallon. The U.S. dollar index 
weakened by 0.17 points to 97.365.

   Markets remained focused on supply risks surrounding Russian oil. Over the 
weekend, Ukrainian forces continued strikes on Russian oil infrastructure, 
including attacks on the Kirishi refinery and pipelines feeding Primorsk, 
Russia's largest oil export hub. Last month, similar attacks impacted roughly a 
fifth of Russian refining capacity. Despite looming sanctions threats, pipeline 
deliveries from landlocked NATO and EU countries, including Slovakia and 
Hungary, remain largely unaffected for now.

   Looking ahead, markets are preparing for tomorrow's U.S. economic releases, 
which could influence crude and refined product demand expectations. The API 
report tomorrow afternoon will provide fresh inventory data that could shift 
near-term price direction.




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