Oil Prices Surge as Russia Strikes Ukrainian Energy Facilities

The New Diplomat
Writer

Ad

Trump and Starmer Set to Seal Sweeping Nuclear Energy Deal

Britain and the United States are set to sign a sweeping agreement to accelerate nuclear power development during U.S. President Donald Trump’s state visit this week, marking what Keir Starmer described as the start of a “golden age of nuclear.” The accord, known as the Atlantic Partnership for Advanced Nuclear Energy, is designed to streamline licensing…

‘Your verdict ungodly,’ INEC fires back at Catholic bishops over 2023 election criticism

...Nigeria is sinking, insists Bishops By Obinna Uballa The Independent National Electoral Commission (INEC) has rejected a scathing assessment of the 2023 general elections by the Catholic Bishops’ Conference of Nigeria (CBCN), describing the clerics’ position as “unfair” and “ungodly.” Reacting to comments by CBCN President and Archbishop of Owerri, Lucius Ugorji, who declared that…

Report affirms South-South as Nigeria’s revenue backbone, highlights states with growth potential

By Obinna Uballa The oil-rich South-South remains Nigeria’s main revenue source, but fresh opportunities are emerging across other regions as infrastructure projects and structural reforms unlock new real estate and economic frontiers, a new report has revealed. The Nigerian Residential Market Review 2025, published by Diya Fatimilehin & Co., notes that although the South-South’s dependence…

Ad

By Julianne Geiger

Russia has targeted Ukranian energy facilities in an overnight attack with long-range precision weapons, Russia’s Defense Ministry said on Friday.

“Last night, the Russian Armed Forces delivered a combined strike by air-launched, seaborne and ground-based long-range precision weapons, including Kinzhal aero-ballistic hypersonic missiles, and also by unmanned aerial vehicles against energy facilities and air defense sites of the Ukrainian army. The goals of the strike were achieved. All the targets were struck,” The ministry said.

Ukraine’s largest power provider, DTEK, said that three of its thermal power stations were targeted in the overnight attacks. According to the Ukrainian military, the attack included dozens of missiles and at least 60 explosive drones—all aimed at energy infrastructure. Ukraine said that 84 of 99 missiles were shot down, but the late-night attacks did manage to damage Ukraine’s energy assets in six separate regions, some of which triggered emergency shutdowns.

The Russian attacks on Ukraine’s energy infrastructure come after Ukraine stepped up its drone attacks on Russian refineries in recent weeks, reducing Russia’s overall refinery capacity and cutting into Russia’s refinery output, including gasoline and diesel production for its own domestic market. The United States had urged Ukraine to stop its attacks on Russia’s refineries on concerns that any Russian retaliation could result in a spike in crude oil prices. Rising crude oil prices, which lead to higher gasoline prices, are problematic for sitting U.S. presidents in election years.

Crude oil prices were trading up on Friday morning, with Brent reaching $87 per barrel—an increase of 1.86% on the day or $1.59 per barrel.

Earlier this week, Russia attacked an underground natural gas storage site in Ukraine, but the attack did not disrupt supply.

NB: Julianne Geiger wrote this article for Oilprice.com

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp