COMMODITY
Crude oil futures settle higher on Monday
Sep-16-2025

Crude oil futures settled higher on Monday after Ukrainian drones set the Kirishi oil refinery in Russia's north-west (one of Russia's largest) on fire. The refinery refines about 17.7 million metric tons per year (355,000 barrels per day) of Russian crude, or 6.4% of the country's total. Meanwhile, traders were cautious after US President Donald Trump agreed to go ahead to impose heavier sanctions on Russia provided Europe matches the US by ending buying Russian oil.

Benchmark crude oil futures for October rose $0.61 or 0.97% at $63.30 a barrel on the New York Mercantile Exchange. Brent crude for November delivery surged $0.45 or 0.67% to settle at $67.44 a barrel on London's Intercontinental Exchange.

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