Ammon News - Oil prices rose on Tuesday as concerns about supply disruptions grew amid an escalation of the conflict between Russia and Ukraine.

Brent crude added 40 cents, or 0.59%, to $68.55 a barrel by 0149 GMT, while U.S. West Texas Intermediate crude was at $65.06 a barrel, up $1.05, or 1.64%.

WTI futures did not settle on Monday due to the Labor Day holiday in the U.S.

Recent Ukrainian drone attacks shut down facilities accounting for at least 17% of Russia's oil processing capacity, or 1.1 million barrels per day, according to Reuters' calculations.

On Sunday, Ukraine's President Volodymyr Zelenskiy said Ukraine plans new strikes deep into Russia after weeks of intensified attacks on Russian energy assets.

Investors now await a meeting among members of the Organization of the Petroleum Exporting Countries and their allies on September 7 for any clues on further output hikes from the group.

Reuters