# Oil prices inch higher amid attacks on Russian energy facilities | Reuters

> Oil prices climbed about 2% to a four-month high after Brent and WTI rose on lower crude exports from Iraq and Saudi Arabia. Ukrainian attacks on Russian energy infrastructure also idled about 7% of Russian refining capacity in the first quarter.

- Date: 2024-03-18 · published 2024-03-18T12:00:00.000Z
- Category: geopolitics · region Russia · magnitude medium
- Page: https://feedsoft.ai/events/31372-oil-prices-inch-higher-amid-attacks-on-russian-energy-facilities-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower Gulf exports and refinery outages tighten crude and product supply, lifting energy costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-03-07 | [Oil price rises above $70 after attacks on Saudi oil facilities](https://feedsoft.ai/events/48297-oil-price-rises-above-70-after-attacks-on-saudi-oil-facilities.md) | -0.7% | -11.2% |
| WTI | 2022-03-25 | [Oil rises to over $120/bbl after attack on Saudi facilities \| Reuters](https://feedsoft.ai/events/9151-oil-rises-to-over-120-bbl-after-attack-on-saudi-facilities-reuters.md) | -11.6% | -9.7% |
| WTI | 2022-03-07 | [Oil prices hit 14-year highs on Russia oil ban talks, Iran deal delay \| Reuters](https://feedsoft.ai/events/42431-oil-prices-hit-14-year-highs-on-russia-oil-ban-talks-iran-deal-delay-reuters.md) | -5.5% | -14.2% |
| WTI | 2019-09-16 | [Attack On Saudi Oil Facilities Makes Oil Prices Spike : NPR](https://feedsoft.ai/events/6929-attack-on-saudi-oil-facilities-makes-oil-prices-spike-npr.md) | +5.8% | -0.1% |
| WTI | 2026-10-23 | [Oil prices jump $3 on Houthi attacks, oil spill, highest settlement since April By Reuters](https://feedsoft.ai/events/17214-oil-prices-jump-3-on-houthi-attacks-oil-spill-highest-settlement-since-april-by.md) | -1.0% | — |
| BRENT | 2021-03-07 | [Oil price rises above $70 after attacks on Saudi oil facilities](https://feedsoft.ai/events/48297-oil-price-rises-above-70-after-attacks-on-saudi-oil-facilities.md) | -0.9% | -9.6% |
| BRENT | 2022-03-25 | [Oil rises to over $120/bbl after attack on Saudi facilities \| Reuters](https://feedsoft.ai/events/9151-oil-rises-to-over-120-bbl-after-attack-on-saudi-facilities-reuters.md) | -11.4% | -12.8% |
| BRENT | 2022-03-07 | [Oil prices hit 14-year highs on Russia oil ban talks, Iran deal delay \| Reuters](https://feedsoft.ai/events/42431-oil-prices-hit-14-year-highs-on-russia-oil-ban-talks-iran-deal-delay-reuters.md) | -4.6% | -13.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-rise-tighter-supply-geopolitical-risks-2024-03-18/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.