Oil climbs more than 2% after Ukrainian attack damages Russian oil depot

Oil prices rose more than 2% on Friday after a Ukrainian drone attack damaged an oil depot in the Russian Black Sea port of Novorossiysk. Brent crude futures rose $1.34, or 2.13%, to $64.35 a barrel by 0227 GMT, while U.S. West Texas Intermediate crude rose $1.40, or 2.39%, to $60.09 a barrel. The operational headquarters of Krasnodar region, writing on Telegram, said drone fragments hit three apartments and an oil depot in a trans-shipment complex as well as coastal structures. Both benchmarks had held steady on Thursday as worries about looming sanctions on Russian oil countered concerns about global oversupply that had pushed the contracts down more than $2 a barrel in the previous session.