Russia's Volgograd refinery has reportedly halted oil processing on Wednesday following an overnight drone attack, according to sources
Newsquawk Staff ·
Russia's Volgograd refinery has reportedly halted oil processing on Wednesday following an overnight drone attack, according to sources.
What it means
The halt of oil processing at Russia's Volgograd refinery due to a drone attack could tighten supply in an already sensitive market, potentially impacting WTI prices. Traders will want to monitor how this situation evolves, as escalations could lead to further disruptions and influence broader energy market sentiment.
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
- Russian refineries’ crude processing up 25% since drone attacks stopped in mid-October, according to reports, citing sources
- US President Trump says believes I will visit tanker in Texas with Venezuela oil; thinks Secretary of State Rubio will be with him; we are going to accept 1mln bbls of Venezuelan oil
- Russian Deputy PM Novak says domestic refineries are bringing units back online very quickly following maintenance. Russia and the US could begin cooperating on Arctic LNG projects
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