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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid escalating hostilities between Russia and Ukraine, Kyiv launched drone strikes on two oil refineries inside Russian territory, triggering acute fuel shortages. According to media reports, President Putin acknowledged that the country is going through a difficult period, vowing to bolster air defenses and increase fuel supplies to contain the crisis.
The attacks are part of Ukraine's strategy to disrupt Russian energy infrastructure and impair the logistics of its military. Data from the U.S. Energy Information Administration showed crude oil inventories fell by 6.088 million barrels in the week ending June 24, exceeding the forecast drop of 4.5 million barrels, indicating tight market conditions.
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Sign InTraders are closely watching the crisis as drone strikes continue to threaten energy supplies. The market is eyeing upcoming weekly inventory reports from the EIA, as well as any diplomatic moves to de-escalate tensions. Crude oil remains supported by supply fears amid the broadening unrest.