Brent found support after Ukrainian drones hit Russian oil facilities

Recent Ukrainian drone strikes on Russian oil facilities near the Russia-Ukraine border have raised supply concerns and lent support to the Brent price.

PHOTO: Flags of Russia and Ukraine. Getty Images

A suspected Ukrainian drone struck an oil refinery in Novoshakhtinsk in Russia's Rostov region yesterday, causing a fire and prompting the refinery to temporarily shut down, Rostov’s regional governor Vasily Golubev said in his Telegram channel.

“As a result of the UAV attack, a fire broke out at the Novoshakhtinsky oil products plant,” Golubev wrote. The oil refinery in Novoshakhtinsk was previously shut down in March and April after repeated attacks, Reuters reported.

Another drone attack on an oil depot in Stary Oskol was reported by Belgorod’s regional governor Vyacheslav Gladkov yesterday. The drone strike ignited a fire at an oil depot located less than 100 km from Ukraine's border, Gladkov said in his Telegram channel.

"As a result of the explosion, one of the tanks caught fire. Four fire crews quickly extinguished the fire," Gladkov wrote.

Ukraine has ramped up its airstrikes on Russian energy infrastructure and oil facilities in an effort to curb the Russian military's fuel supplies, according to some oil market analysts.

By Aparupa Mazumder 

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