Ukrainian drone hits oil refinery in Russia
Oil prices have moved higher after fallen debris from Ukrainian drones started fire at a major oil refinery in Russia’s Volgograd region.
IMAGE: Flags of the US, Russia and Ukraine. Getty Images
The drone strike was confirmed by the region’s governor Andrey Bocharov. “As a result of falling debris, oil products spilled and caught fire at the Volgograd Oil Refinery,” Bocharov said on Telegram messaging app.
The oil refinery is owned by Russia’s biggest energy firm Lukoil, Bloomberg reports. It has a refining capacity of 300,000 b/d, according to market analyst Vandana Hari.
The news comes ahead of today’s crucial meeting between US President Donald Trump and Russian counterpart Vladimir Putin in Alaska, to discuss potential pathways toward a peace deal in the Russia-Ukraine conflict, now entering its third year.
Russia's defence ministry’s air defence systems have intercepted 44 Ukrainian drones overnight, including nine over Volgograd region, Reuters reports.
Ukraine has ramped up its airstrikes on Russian energy infrastructure and oil facilities in recent weeks to curb the Russian military's fuel supplies, according to oil market analysts.
These attacks have raised geopolitical concerns in the global oil market and supported Brent crude’s price gains today.
By Aparupa Mazumder
Please get in touch with comments or additional info to news@engine.online
