Oil prices rose, on Wednesday, by about 2%, supported by a possible disruption in production after the Ukrainian attacks on Russian refineries and amid expectations of strong global demand and a decline in US oil inventories, in addition to hopes that the US Federal Reserve will begin reducing interest rates soon despite negative inflation data in the United States.
Brent crude futures for May delivery rose $2.11, or 2.78%, to $84.03 per barrel. The US West Texas Intermediate crude contract for April rose $2.78%, or 2.16%, to $79.72.
On Wednesday, Ukraine launched a large-scale drone attack on Russian regions, causing a fire to break out in the largest oil refinery belonging to Rosneft, in what President Vladimir Putin described as an attempt to obstruct the Russian presidential elections.
