Oil Extends Gain on Russia Refinery Attacks, China Economic Data
- Strikes by Ukrainian drones target multiple facilities
- WTI settles above $82, marking highest close since October
Crude has broken out of its tight trading range that dominated the opening months of the year, with prices hitting the highest since November.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Oil climbed to a four-month high as Ukrainian drone attacks on Russian refineries heightened geopolitical risks and key Chinese economic data beat estimates.
West Texas Intermediate rose more than 2% to settle above $82 for the first time since late October. China’s factory output and investment grew more strongly than expected at the start of the year, and the nation refined a record amount of crude, figures on Monday showed.