Crude oil futures traded higher on Monday morning following concerns over crude oil supplies from Russia, as Ukraine intensified drone attacks on Russian oil infrastructure.
At 9.56 am on Monday, November Brent oil futures were at $67.33, up by 0.51 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $62.79, up by 0.16 per cent. September crude oil futures were trading at ₹5565 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹5526, up by 0.71 per cent, and October futures were trading at ₹5568 against the previous close of ₹5526, up by 0.76 per cent.
A Reuters report said that Ukraine launched drone attack on Russia’s Kirishi oil refinery. Quoting Russia’s Defence Ministry officials, it said at least 361 drones had been shot down by Russian air defence systems, including four guided aerial bombs and a US-made HIMARS missile.
Alexander Drozdenko, governor of the Leningrad region, said three drones were destroyed in the Kirishi area and a fire sparked by falling debris had been put out. Kirishi refines around 355,000 barrels per day of Russian crude.
US President Donald Trump said on Sunday that the US is ready to impose fresh sanctions on Russian oil, provided European nations stop buying oil from Russia.
Speaking to reporters, Trump said: “Europe is buying oil from Russia. I don’t want them to buy oil. And the sanctions … that they’re putting on are not tough enough, and I’m willing to do sanctions, but they’re going to have to toughen up their sanctions commensurate with what I’m doing.”
September menthaoil futures were trading at ₹985 on MCX during the initial hour of trading on Monday against the previous close of ₹974.50, up by 1.08 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), October turmeric (farmer polished) contracts were trading at ₹12498 in the initial hour of trading on Monday against the previous close of ₹12358, up by 1.13 per cent.
September cottonseed oilcake futures were trading at ₹3195 on NCDEX in the initial hour of trading on Monday against the previous close of ₹3222, down by 0.84 per cent.
Published on September 15, 2025