Ukraine’s military says it struck a Russian oil refinery in Ufa

The strike on a Russian oil refinery in Ufa by Ukraine's military signals an escalation in hostilities, which could destabilize energy markets further.

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Expect heightened volatility in commodities like oil and natural gas, as well as potential safe-haven flows into gold and other metals. This development will likely be scrutinized for its implications on the geopolitical landscape, especially in relation to sanctions and energy prices in Europe.

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