Oil Rises Amid Geopolitical Tensions
2356 GMT — Oil rises in the early Asian session amid geopolitical tensions. Ukraine launched drone attacks on four military airports inside Russia, destroying more than 40 warplanes. The International Atomic Energy Agency said in a confidential report viewed by The Wall Street Journal that Iran has continued to produce highly enriched uranium over the past three months despite talks between Washington and Tehran on a new nuclear deal. 'On geopolitics, risks continue to provide a bullish support to oil prices against an otherwise softening physical backdrop,' Citi Research's strategist Francesco Martoccia says in a note. Front-month WTI crude oil futures are up 1.9% at $61.96/bbl; front-month Brent crude oil futures are 1.7% higher at $63.83/bbl. (ronnie.harui@wsj.com)
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