🚨 THE GLOBAL ENERGY CRISIS IS ABOUT TO GET WORSE.
Ukraine has reportedly struck three major Russian oil refineries in three consecutive days, despite Trump's push for an energy ceasefire.
• October 30 – Novokuybyshevsk: A Rosneft refinery capable of processing 8.8 million tons of oil annually. A major fire broke out following the attack.
• October 31 – Bashneft-Novoil: Part of Russia's massive Ufa refining complex, which can process around 23.5 million tons annually. A key gasoline-producing unit was reportedly hit.
• November 1 – Kstovo (NORSI): Russia's fourth-largest refinery and second-largest gasoline producer, with a capacity of 15-17 million tons annually. A major fire was reported after the strike.
Together, these refineries and the wider Ufa complex represent roughly 15% of Russia's total oil-refining capacity.
And the timing is extremely concerning.
Global diesel prices had already surged to around $220 per barrel in September, nearly double their pre-crisis levels.
The price surge pushed Trump to reach a deal with Russia to bring more than 300,000 tons of diesel into the U.S. and global markets.
Now, Ukraine is again targeting Russian refineries that produce diesel, gasoline and aviation fuel.
And this isn't just a U.S. problem. Countries around the world depend on Russian fuel supplies, directly or indirectly.
If these attacks cause major production shutdowns, global diesel and gasoline shortages could worsen, putting even more pressure on fuel prices worldwide.
With Trump already pressuring Ukraine to stop attacking Russian refineries, it will be interesting to see how he responds to these latest strikes.
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Ukraine has reportedly struck three major Russian oil refineries in three consecutive days, despite Trump's push for an energy ceasefire.
• October 30 – Novokuybyshevsk: A Rosneft refinery capable of processing 8.8 million tons of oil annually. A major fire broke out following the attack.
• October 31 – Bashneft-Novoil: Part of Russia's massive Ufa refining complex, which can process around 23.5 million tons annually. A key gasoline-producing unit was reportedly hit.
• November 1 – Kstovo (NORSI): Russia's fourth-largest refinery and second-largest gasoline producer, with a capacity of 15-17 million tons annually. A major fire was reported after the strike.
Together, these refineries and the wider Ufa complex represent roughly 15% of Russia's total oil-refining capacity.
And the timing is extremely concerning.
Global diesel prices had already surged to around $220 per barrel in September, nearly double their pre-crisis levels.
The price surge pushed Trump to reach a deal with Russia to bring more than 300,000 tons of diesel into the U.S. and global markets.
Now, Ukraine is again targeting Russian refineries that produce diesel, gasoline and aviation fuel.
And this isn't just a U.S. problem. Countries around the world depend on Russian fuel supplies, directly or indirectly.
If these attacks cause major production shutdowns, global diesel and gasoline shortages could worsen, putting even more pressure on fuel prices worldwide.
With Trump already pressuring Ukraine to stop attacking Russian refineries, it will be interesting to see how he responds to these latest strikes.
$XAU $ZEC $ETH
