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Ukrainian Attacks on Russian Energy Sites Raise Oil Prices
(MENAFN) Ukrainian assaults on Russian energy infrastructures are playing a role in the surge of oil prices across the US, Europe, and Asia, a media outlet reported on Saturday.
The combined impact of these strikes, alongside outages at significant plants in Asia and Africa, has removed millions of barrels of diesel and gasoline from the international market, according to the news agency.
In addition, US sanctions targeting Russian energy companies Lukoil and Rosneft in October, as well as restrictions implemented by the EU, have further contributed to the rise in prices.
Refining profit margins in the US, Europe, and Asia have now reached their highest levels for this season since at least 2018, the media outlet said, citing its own analyses.
Additional strain on supply has resulted from shutdowns and operational interruptions at refineries in Kuwait and Nigeria.
Ukraine has been using drones and missiles to strike oil depots, processing plants, and metering stations, describing these sites as legitimate targets that support Russia’s “war machine.”
In retaliation, Russia has targeted parts of Ukraine’s power grid, arguing that the infrastructure assists the Ukrainian military.
In August, Hungary imposed sanctions on Ukraine’s leading drone commander, Robert Brovdi, after repeated strikes interfered with the flow of crude through the Soviet-era Druzhba pipeline.
The combined impact of these strikes, alongside outages at significant plants in Asia and Africa, has removed millions of barrels of diesel and gasoline from the international market, according to the news agency.
In addition, US sanctions targeting Russian energy companies Lukoil and Rosneft in October, as well as restrictions implemented by the EU, have further contributed to the rise in prices.
Refining profit margins in the US, Europe, and Asia have now reached their highest levels for this season since at least 2018, the media outlet said, citing its own analyses.
Additional strain on supply has resulted from shutdowns and operational interruptions at refineries in Kuwait and Nigeria.
Ukraine has been using drones and missiles to strike oil depots, processing plants, and metering stations, describing these sites as legitimate targets that support Russia’s “war machine.”
In retaliation, Russia has targeted parts of Ukraine’s power grid, arguing that the infrastructure assists the Ukrainian military.
In August, Hungary imposed sanctions on Ukraine’s leading drone commander, Robert Brovdi, after repeated strikes interfered with the flow of crude through the Soviet-era Druzhba pipeline.
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