Crude oil prices rose on Tuesday as markets reacted to fears of supply disruptions from Ukrainian drone strikes on Russian ports and refineries. Russian pipeline operator Transneft warned producers may need to cut output, while Goldman Sachs estimated that 300,000 barrels per day of refining capacity had been knocked offline since August. As a result, Brent crude climbed 1.5% to $68.47 a barrel, and WTI crude gained nearly 2% to $64.52.

Gas markets also strengthened, despite healthy LNG supplies. Unplanned outages at the Hartlepool 1 and Heysham 2-7 nuclear reactors reduced generation, while technical buying added upward pressure. This pushed the UK’s NBP spot price up 0.8% to 78.60 pence per therm. Looking further ahead, the Winter 2025 contract rose by the same margin to 86 p/therm, reflecting concerns about low wind output and higher demand risk.