Oil prices climbed for a fourth straight session on Monday, with West Texas Intermediate for October delivery settling at $64.80 a barrel, up $1.14, or 1.79%, and Brent closing at $68.80, an increase of $1.07, or 1.58%. The gains pushed WTI to its highest finish in nearly three weeks and extended last week’s rebound. The advance followed fresh Ukrainian drone strikes that ignited fires at Russia’s Ust-Luga fuel export terminal on the Baltic and the 100,000-barrel-per-day Novoshakhtinsk refinery in the Rostov region. The attacks deepened concerns about potential disruptions to Russian product exports, already strained by gasoline shortages that have prompted domestic fuel rationing and an export ban through end-August. Supply worries were amplified by reports that Moscow may lift August crude exports from western ports by about 200,000 barrels a day to compensate for lost refining capacity, while traders weighed the prospect of additional U.S. sanctions if peace talks stall. Hedge-fund long positions remain near multi-year lows, underscoring lingering caution over ample global inventories and OPEC+’s gradual unwinding of output cuts. Macro sentiment also supported crude after Federal Reserve Chair Jerome Powell signaled the central bank could reduce interest rates as early as its September meeting, boosting expectations for stronger energy demand. Nonetheless, prices eased in early Tuesday trading, with Brent slipping to $68.29 and WTI to $64.23, as investors awaited U.S. inventory data and monitored tariff risks that could temper economic growth.