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17.09.202501:15:07UTC+00Brent Holds Near Two-Week High

Brent crude oil futures settled around $68.4 per barrel on Wednesday, maintaining the majority of their gains over the past three days and nearing a two-week peak. Market participants are evaluating increased supply risks following Ukraine's intensifying drone attacks on Russian refineries and export facilities. Although industry insiders have suggested that Transneft has alerted producers to potential production reductions, the company repudiated these claims, dismissing them as Western misinformation. Beyond this geopolitical tension, oil prices have been bolstered by predictions of further Western sanctions on Russia, alongside prospective new restrictions on purchasers of its crude. Investors are also closely monitoring the Federal Reserve's policy decision, with a rate cut widely anticipated to invigorate economic activity and elevate fuel demand. Additionally, industry reports indicated that U.S. crude oil inventories decreased by 3.42 million barrels in the previous week, significantly exceeding the predicted decline of 1.6 million barrels.

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