Oil prices rose on Monday due to Ukrainian drone attacks on Russian refineries and President Trump urging NATO nations to stop buying Russian oil. Brent crude settled at $67.44 a barrel, up 0.67%, while WTI crude settled at $63.30, up 0.97%. Attacks on Russian oil infrastructure and Trump’s pressure on buyers boosted prices. The Kirishi refinery, processing 355,000 bpd of Russian crude, halted a key unit after a drone attack. Both crude contracts gained more than 1% last week as Ukraine targeted Russian oil infrastructure.

President Trump threatened fresh energy sanctions on Russia if all NATO nations stopped buying Russian oil. Oil prices also received support from strong refinery demand in China and a decline in U.S. crude inventories, while weaker economic data from China weighed on prices. Investors are awaiting the U.S. Federal Reserve’s interest rate decision on September 16-17, with expectations of easing monetary policy to boost fuel demand. The market is anticipating a more aggressive Fed cut, which could lower the U.S. dollar and support oil prices.

The U.S. dollar weakened against other currencies on Monday, potentially increasing crude demand as a weaker dollar makes oil cheaper for holders of other currencies. Last week, concerns arose about economic growth in the U.S., the world’s largest economy and oil consumer, due to softer job-creation data and rising inflation. Oil prices also received support from solid refinery demand in China and a decline in U.S. crude inventories, while weaker economic data from China weighed on prices.

Read more at Yahoo Finance.: Oil settles higher as investors assess attacks on Russian energy facilities