WASHINGTON (dpa-AFX) - Oil edged lower on Wednesday after rallying for three days on concerns over potential disruptions to Russian oil supply following drone strikes on Russian ports and refineries.
Benchmark Brent crude futures fell 0.6 percent to $68.03 in European trade, while WTI crude futures were down 0.7 percent at $64.10.
Amid a faltering U.S. labor market, traders looked ahead to the Federal Reserve's anticipated interest rate cut later in the day.
On the geopolitical front, an overnight Russian drone attack on Ukraine's central Kirovohrad region partially cut power and disrupted railway operations.
Ukrainian Deputy Prime Minister Oleksiy Kuleba said the Russian forces targeted railway infrastructure in the overnight attack, without specifying the location.
EU chief Ursula von der Leyen on Tuesday said she and U.S. President Donald Trump discussed additional steps to increase economic pressure on Russia.
The 19th package of EU sanctions on Russia since the 2022 invasion of Ukraine will include measures targeting crypto, banks and energy, she said.
Investors await the official data from the Energy Information Administration (EIA) later in the day after a privately conducted survey by the American Petroleum Institute (API) showed a larger than expected headline crude oil draw.
The API report showed that U.S. crude oil inventories fell by 3.420 million barrels in the week ending September 12, more than twice as much as analysts had predicted.
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