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Sign InAmid escalating geopolitical tensions targeting energy infrastructure, gas stations in Moscow and northern Russia have begun capping fuel purchases per driver to prevent panic buying. Deputy Prime Minister Alexander Novak admitted that crude production is falling due to unscheduled refinery repairs following drone strikes. Despite widespread reports of supply shortages and rationing, regional governors continue to deny the existence of a fuel crisis.
These disruptions occur as global energy markets face tightening supply, with the API reporting a significant crude stock draw of -9.119 million barrels per market data on June 9, 2026. While global peers like ExxonMobil have capitalized on refining margins recently, Russia is forced to divert export volumes to satisfy domestic demand. This shift highlights the operational strain caused by the persistent targeting of Russian processing facilities.
Traders should monitor price action following the market close on June 12, 2026, as geopolitical risk premiums remain elevated. Key catalysts to watch include the upcoming OPEC meeting scheduled in the calendar, which will address production targets in light of these supply shocks. Additionally, global inflation data will be critical in assessing the long-term demand outlook for energy commodities.