Brent Crude Trades Near $109 as Ukraine Strikes Russian Energy Sites

Brent crude futures traded near $109 a barrel Sunday as Ukraine struck Russian energy facilities and two tankers came under attack in the Persian Gulf, bringing geopolitical risks into focus for financial and crypto markets.

Brent fell $1.04 to $108.82 a barrel, while U.S. West Texas Intermediate crude dropped 26 cents to $101.15. Brent is the international benchmark; WTI is the U.S. benchmark.

Fires broke out at an oil terminal and a depot in St. Petersburg after Ukraine’s Sunday drone strikes. Ukraine had briefly paused attacks after President Donald Trump declared Oct. 11 that Kyiv and Moscow had agreed to a truce. Russia continued striking Ukrainian energy infrastructure after the declaration. President Volodymyr Zelenskyy said last week that Kyiv would resume attacks on Russian facilities in response.

Two tankers came under attack Friday in the Persian Gulf off Saudi Arabia. A small boat fired a rocket-propelled grenade at one tanker 78 nautical miles northeast of Al Jubayl; a second tanker, ST3, was hit by an unknown projectile. The incidents add geopolitical risk to markets as oil prices remain near recent highs.