Oil Prices Are Jumping

Why Oil Prices Are Jumping After OPEC Increased Production

Oil prices were surging on Monday, driven higher by a flare-up in
tensions between Russia and Ukraine and an output hike by the OPEC+
cartel of producers.

Crude was surging after Ukraine launched drone attacks
on four military airports in Russia, destroying more than 40
warplanes. Geopolitical shocks have tended to trigger short-term oil
spikes in recent years, although concerns about waning global demand
have kept a lid on prices.

https://www.barrons.com/articles/oil-price-crude-wti-brent-opec-89a26411

destroying more than 40 warplanes

Ukraine drones strike bombers during major attack in Russia

Ukraine says it has completed its biggest long-range attack of the war
with Russia on Sunday, after using smuggled drones to launch a series
of major strikes on at least 40 Russian warplanes at four military
bases.

President Volodymyr Zelensky said 117 drones were used in the
so-called "Spider's Web" operation by the SBU security service,
striking "34% of [Russia's] strategic cruise missile carriers".

SBU sources told BBC News it took a year and a half to organise the
strikes.

https://www.bbc.com/news/articles/c1ld7ppre9vo