Russia Partially Resumes Novorossiysk Oil Loadings After Drone Strike

Russia has initiated a limited restart of oil loading operations at the Sheskharis terminal in the Port of Novorossiysk following a drone strike earlier this week. Current operations are restricted to a single active berth, with an initial cargo of 80,000 tons scheduled for departure, significantly below the port's standard capacity of 700,000 barrels per day. The Monday strike caused damage to loading infrastructure, impacting both Russian crude exports and Kazakh oil flows via the CPC pipeline. While the partial resumption provides some relief to global supply concerns, the lack of a clear timeline for a full return to normal volumes maintains a geopolitical risk premium. Market participants remain cautious as the vulnerability of Russian energy infrastructure to further attacks continues to influence price action for Brent and WTI. The situation highlights ongoing threats to Black Sea energy corridors, which remain critical for international oil markets.