DTN Oil Update

Miguel E. Andujar
DTN Refined Fuels Market Reporter

DAVENPORT, Fla. (DTN) -- Oil futures prices finished slightly higher Monday with markets digesting ongoing supply risks from Russian infrastructure attacks while looking ahead to key U.S. economic data and the American Petroleum Institute (API) inventory report Tuesday.

NYMEX-traded WTI for October delivery settled at $63.30 barrel (bbl), up by $0.61 from the morning's $62.69. ICE Brent for November delivery closed at $67.45 bbl, gaining $0.46 from the previous trading session. October RBOB gasoline futures rose by $0.0280 to $2.0134 gallon, and the front-month ULSD contract inched up by $0.0411 to $2.3311 gallon. The U.S. Dollar Index weakened by 0.17 points to 97.365.

Markets remained focused on supply risks surrounding Russian oil trade. Over the weekend, Ukrainian forces continued strikes on Russian oil infrastructure, including attacks on the Kirishi refinery and pipelines feeding Primorsk, Russia's largest oil export hub. Last month similar attacks impacted roughly a fifth of Russian refining capacity. Despite looming sanctions threats, pipeline deliveries from landlocked NATO and EU countries, including Slovakia and Hungary, remain largely unaffected for now.

Market participants will focus on Tuesday's release of U.S. retail sales, import prices, and industrial production data. The American Petroleum Institute will also issue its weekly petroleum report Tuesday afternoon, after showing a 1.250-million-bbl crude oil build last week.