Ukrainian drones reportedly started a fire at Sheskharis oil terminal at Russia's Novorossiysk overnight, according to sources

Context

The reported attack on Russia's Sheskharis oil terminal by Ukrainian drones could escalate tensions significantly, especially considering its strategic importance for oil exports. This incident may lead to heightened volatility in energy prices and could impact global risk sentiment, with potential safe-haven flows into currencies like the USD and JPY. Traders should watch for implications on WTI prices and overall market reactions as conflict dynamics evolve.

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