Oil prices increased on Friday following a Ukrainian drone strike that halted shipments from the biggest port in western Russia, though the rise was limited by worries over U.S. demand. Brent crude futures closed at $66.99 a barrel, an increase of 62 cents, or 0.93%. The price of U.S. West Texas Intermediate crude closed at $62.69, up by 32 cents, which is an increase of 0.51%.

Crude oil prices responded to a drone attack on Russia’s Primorsk port in the northwest, which caused oil loading operations to be halted overnight. Analyst Giovanni Staunovo stated, “Those attacks on Russian energy infrastructure could reduce Russian crude and refined product exports.” Later in the day, the gains decreased as traders kept their attention on a revised U.S. jobs report released earlier in the week and rising inflation numbers. “The economic data doesn’t back up a rally,” stated John Kilduff. “The total weight has decreased, and the trend is negative.” The economy probably added 911,000 fewer jobs in the year ending in March than earlier estimates suggested.

The consumer price index increased by 0.4% in August, marking the largest rise since January, following a 0.2% increase in July. The markets are keeping an eye on possible sanctions or tariffs from the Trump administration that could limit the use of Russian crude by India and China. “If the tariffs on India and China could hurt exports, we might see Russian oil taken off the market,” Kilduff stated. On Thursday, the Brent and WTI benchmarks dropped by 1.7% and 2% respectively. Global oil supply is set to increase more quickly than anticipated this year. This is due to planned output boosts by the OPEC+ group, which includes the Organization of the Petroleum Exporting Countries and allies like Russia.

OPEC’s report released later in the day kept its forecasts for oil demand growth this year and next unchanged, noting that the global economy continues to show solid growth. India’s biggest private port operator, has stopped tankers that are sanctioned by Western countries from coming into all of its ports, the largest purchaser of Russian oil transported by sea, primarily using tankers that face sanctions from the European Union, the United States, and Britain.