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Crude oil prices climbed as heightened geopolitical tensions fueled market concerns.

Metin Okyay Ertaş | 23/09/2025 - 18:03

Oil prices edged higher on Monday, supported by geopolitical tensions in Europe and the Middle East. However, expectations of increased supply and concerns over the impact of trade tariffs on global fuel demand weighed on gains.

Brent crude futures rose 0.42% to $66.96 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 0.32% to $62.88.

The move followed Friday’s incident in which three Russian warplanes violated NATO member Estonia’s airspace for 12 minutes. On Sunday, Germany’s air force reported that a Russian military aircraft entered neutral airspace over the Baltic Sea.

According to diplomats, the United Nations Security Council is set to meet Monday to discuss Estonia’s allegations of Russian airspace violations.

In recent weeks, Ukraine has intensified drone attacks targeting Russia’s energy infrastructure, including terminals and refineries. Meanwhile, U.S. President Donald Trump urged the European Union to halt purchases of Russian oil and gas.