Brent near $108, a four-month high, with the risk premium backed by actual barrels: Saudi cancelled September deliveries to Europe after drones shut the East-West pipeline, Libya suspended two oilfiel

What happened: Fires broke out at an oil terminal and depot in St. Petersburg after Ukraine launched a wave of drone strikes on Sunday, as Brent crude hovered near $109 a barrel. Key numbers: Brent crude near $109 a barrel. Why it matters: The strikes on energy infrastructure and attacks on tankers in the Middle East come as crude trades near $109, a level the headline ties to the resumed strikes.

Fires broke out at an oil terminal and depot in St. Petersburg after Ukraine launched a wave of drone strikes on Sunday, as Brent crude hovered near $109 a barrel.

The strikes on energy infrastructure and attacks on tankers in the Middle East come as crude trades near $109, a level the headline ties to the resumed strikes.