Russia’s Sheskharis oil terminal in Novorossiysk on the Black Sea will see oil exports limited for a couple of weeks after a Ukrainian drone attack last week, according to reports

The limitation on oil exports from Russia's Sheskharis terminal following a Ukrainian drone attack indicates heightened geopolitical tensions that could further strain energy supplies. This disruption may have implications for oil prices, pushing them higher, especially as global markets remain sensitive to supply concerns. Watch for potential safe-haven flows into gold and the impact on commodity-linked currencies like the CAD and NOK.