Ukrainian Attack Disrupts Russian Oil Exports at Novorossiysk

Oil exports from Russia's Novorossiysk port face delays due to damage from a Ukrainian attack, affecting Suezmax tanker loadings. Operations have partially resumed, with expectations to clear backlog by November's end despite potential weather disruptions. The incident impacted global oil prices, illustrating fragile geopolitical tensions.

Oil exports at Russia's critical Novorossiysk port experienced significant delays following an attack attributed to Ukrainian forces. The assault specifically damaged a jetty used for loading large Suezmax tankers, prompting operational disruptions.

In the days succeeding the attack, oil loadings resumed, albeit behind schedule, impacting the global oil market as prices fluctuated based on operational status. Industry insiders expressed optimism about overcoming the backlog without further weather-related delays before month's end.

This incident underscored vulnerabilities within major Black Sea oil export routes, simultaneously affecting exports from Kazakhstan. The Kremlin affirmed its capability to manage the fallout promptly and restore standard operations.

(With inputs from agencies.)