Oil settles up as Russian port suspends oil exports

Brent crude futures settled up US$1.38, or 2.19%, at US$64.39 a barrel, while US West Texas Intermediate crude settled up US$1.40, or 2.39%, at US$60.09 a barrel.

HOUSTON: Oil prices settled more than 2% higher on Friday as Russia's port of Novorossiisk halted oil exports following a Ukrainian drone attack that hit an oil depot in the Russian energy hub, stoking supply concerns.

Brent crude futures settled up US$1.38, or 2.19%, at US$64.39 a barrel, while US West Texas Intermediate crude settled up US$1.40, or 2.39%, at US$60.09 a barrel.