Russian energy facilities continue to face drone attacks

Brent’s price found little support after Ukraine continued to target Russia’s energy facilities with a barrage of drones, raising supply concerns in the region.

MAP: Several energy facilities in western Russia that have come under drone attacks. ENGINE

A series of fires broke out at a fuel depot situated in Volokonovsky district in Russia's Belgorod region yesterday, its Governor Vyacheslav Gladkov confirmed.

This news has put some upward pressure on oil prices as supply concerns intensified over the weekend, with Kyiv and Moscow blaming each other for overnight attacks.

“As a result of the explosion, the [fuel] tanks caught fire,” Gladkov said on the Telegram messaging app.

Falling drone debris also caused fires at three other locations, Gladkov said.

Kyiv has ramped up its airstrikes on Russian oil and energy facilities, according to oil market analysts. These attacks have raised concerns about supply disruptions in the global oil market, which is already grappling with geopolitical conflicts in the Middle East and Libya.

By Aparupa Mazumder

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