Russian Deputy PM Novak says they will be diverting oil supply that was previously planned for Germany through the Druzhba pipeline to different logistic routes, as of the 1st of May

The announcement from Russian Deputy PM Novak regarding the redirection of oil supplies previously intended for Germany highlights escalating tensions and potential disruptions in energy markets. This move can impact pricing dynamics for oil and related commodities, likely boosting prices as supply routes are altered and uncertainty grows regarding the availability of Russian oil to Europe. Additionally, it could lead to increased volatility in related currency markets, particularly for the Euro and the USD as traders reassess the implications for energy security and economic stability in the region.