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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In an escalation of the Russia-Ukraine conflict, the NORSI refinery, Russia's fourth-largest oil refinery and second-largest gasoline producer, suspended operations after a Ukrainian drone attack, two industry sources told Reuters. The halt is expected to worsen domestic fuel shortages in Russia, which has already been grappling with declining gasoline inventories.
The attack is part of a series of Ukrainian strikes on Russian energy infrastructure since early 2026, targeting refineries and storage depots. According to market data, Brent crude oil traded around $85.20 per barrel (close June 25), supported by supply concerns. Russia's central bank raised its key interest rate to 14.25% on June 19, reflecting inflationary pressures partly linked to energy disruptions.
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Sign InInvestors are monitoring the impact on global oil prices amid ongoing geopolitical tensions. Brent crude futures may test levels above $86 if the supply shortfall from NORSI persists. On the economic calendar, upcoming U.S. inflation data and Federal Reserve speeches will be watched for clues on monetary policy and its effect on oil demand.