Ukrainian long-range drones hit the Ilsky Oil Refinery in the Krasnodar Krai region of Russia and the refinery is on fire, according to Visegrad 24
The attack on the Ilsky Oil Refinery in Russia represents a significant escalation in the conflict, likely impacting energy prices, particularly crude.
[MARKET ANALYSIS] Oil futures are steady overnight ahead of US-Iran talks and US-Ukraine-Russia trilateral negotiations in Geneva
[MARKET UPDATE] Further downside in precious metals with spot silver now down 2.5% and with spot gold lower by 1.1%
Ukrainian long-range drones hit the Ilsky Oil Refinery in the Krasnodar Krai region of Russia and the refinery is on fire, according to Visegrad 24
[MARKET UPDATE] Mild pressure in metal prices with spot silver down 1.7% and with spot gold down 0.4% amid the absence of Asia buyers due to the Lunar New Year holiday
RBA Minutes from February meeting stated that members agreed that prevailing uncertainties meant it was not possible to have a high degree of confidence in any particular path for the cash rate
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Investors should watch for potential volatility in commodities and currencies as markets react to any disruption in supply chains or heightened tensions. This situation could also lead to increased safe-haven buying in gold and JPY, while oil prices may spike if concerns about supply arise.
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