Oil prices rise after surprise drop in US crude stockpiles

05:13

More Videos

As taps run dry, drinking water floods Belgrade’s streets

Vares residents are still waiting for answers on lead exposure

How is the FETO terrorist organisation being dismantled in the Balkans?

US–Türkiye: Resolving rifts? | Inside America

International Adoptions: A Global Scandal | Storyteller | Trailer

Srebrenica: 31 years later

Why Türkiye is the next major player in stem cell tech | NexTech

Serbian activists campaign against battery cages for laying hens

Which Balkan country is the closest to join the European Union?

Politics, power and the World Cup | Bigger Than Five

Global Economy & Markets

Oil prices rise after surprise drop in US crude stockpiles

Oil prices are extending gains on Thursday after a surprise drop in US inventory - a factor which indicates strengthening demand - but also serious disruptions due to Ukrainian attacks on Russia. Brent is now trading at more than $85 a barrel, WTI at $81 a barrel. They are both up 3% on a four-month high amid heightened geopolitical risk.That's as Ukrainian drone strikes on Russian refining facilities continued for a second day on Wednesday, causing a fire at Rosneft's biggest refinery in one of the most serious attacks against Russia's energy sector in recent months. Two sources familiar with the situation told Reuters that the refinery had been forced to shut down two primary oil refining units. Ukraine earlier caused serious damage to Russian multinational energy company, Lukoil's refinery in Nizhny Novgorod.