US EditionOil Prices Jump as Ukraine Hits One of Russia’s Biggest Export Hubs
- On Friday, Ukrainian drones struck Novorossiysk, damaging a ship, an oil depot and apartments, injuring three crew members; WTI rose 1.52% to $59.58 and Brent traded at $63.88.
- Ukrainian forces have increasingly targeted Russian oil-refining, storage and export infrastructure using drones and missiles, and analysts say in recent months the campaign shifted to hard-to-replace refinery equipment.
- Emergency crews said they brought a fire at an oil depot in a transshipment complex under control after drone fragments smashed windows in at least four apartments.
- Novorossiysk's role as Russia's second-largest oil export hub raises fears of supply disruptions amid U.S. sanctions effective Nov. 21 barring transactions with Rosneft and Lukoil.
- Despite price spikes, the broader market outlook remains bearish as U.S. crude inventories rise and analysts cited warnings of a severe glut in 2026 despite short-term markets disruptions.
63 Articles
63 Articles
The ASA revealed the details of the oil terminal damage operation.
Ukrainian drones have attacked the Russian port city of Novorosijsk. An oil camp, a passenger ship and homes have been damaged. Mines continue to fight the largest country in the world. Videos of an explosion and fire showing the attack are circulating in the social media. According to the mayor of Novorosijsk, Andrei Kravchenko, the state of emergency has been imposed, emergency shelters are being set up. The oil camp has been set on fire by fa…
In a Ukrainian attack, three crew members of the ship were injured. In addition, drone parts fell on four multi-family houses and two private houses. One man was injured.
In Novorossiysk on the Black Sea, according to authorities, oil port, coastal facilities and a civilian ship were damaged. In Ukraine, there were six deaths after massive Russian air raids.
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