Ukraine and Russia attack energy infrastructure
September 15, 2025
Ukraine and Russia continue trade drone attacks that seem to target energy infrastructure. Friday saw crude oil prices rally as Ukraine drones hit Russia’s largest western terminal which stopped its loading.
China’s decision to buy oil to put more barrels into its strategic reserve was also supportive of prices. The Bureau of Labor Statistics revised last year’s jobs numbers down by 911,000. This was a poor report for support of a strong economic outlook, which kept prices from seeing more upside. I will say again, there is no clear trend, and these markets fluctuate based on the latest headlines, making it very difficult to determine a clear path at this time. Look for more congestion ahead.
President Trump is trying to get tougher sanctions on Russia and its oil, and this is offering some support to prices this morning. President Trump is trying to get more NATO countries to stop buying Russian oil. US Energy Secretary Chris Wright said the European Union could phase out Russian oil and gas faster, adding that it would be helpful to end the war in Ukraine.
Poland’s Prime Minister Donald Tusk said that this week’s drone incursion into his country’s airspace was not a mistake by Russia, despite US President Donald Trump’s suggestion that the incident could have been accidental.
Britain launched a new package of Russian-related sanctions on Friday, targeting ships carrying Russian oil, as well as companies and individuals supplying electronics, chemicals and explosives used to make Russian weapons.
Baker Hughes reported that oil rigs increased by 2 to a total of 416, their highest level since July.
The Fed meets this week, and the market expects the Fed to cut rates and the most.