Oil extended gains in Asian trade on Thursday after a surprise drop in U.S. crude stockpiles indicated strengthening demand, while possible supply...
BEIJING - Oil extended gains in Asian trade on Thursday after a surprise drop in U.S. crude stockpiles indicated strengthening demand, while possible supply disruptions following Ukrainian attacks on Russian refineries also underpinned prices.
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.After seriously damaging Lukoil's refinery in Nizhny Novgorod on Tuesday, Ukraine hit refineries in the Rostov and Ryazan regions, Russian officials said.
On the demand side, U.S. crude oil stockpiles fell unexpectedly as processing increased and gasoline inventories decreased amid strong demand ahead of the summer driving season, the Energy Information Administration said on Wednesday.
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