Crude oil futures settled higher on Friday as Ukraine’s drone attacks on Russia’s energy infrastructure cut the country’s fuel exports. Several Russian regions face shortages of certain grades of fuel due to the drop in refining capacity. Ukrainian President Volodymyr Zelenskyy has stated that US President Donald Trump supported Ukraine's retaliatory attacks on Russia's energy infrastructure that have pounded Russian refineries.
Benchmark crude oil futures for November surged 74 cents or 1.14% at $65.72 a barrel on the New York Mercantile Exchange. Brent crude for November delivery gained 71 cents or 1.02% to settle at $70.13 a barrel on London's Intercontinental Exchange.