Russia's Black Sea port of Novorossiysk temporarily suspended oil exports - equivalent to 2.2 million barrels per day, or 2% of global supply - on Friday, according to industry sources, after a Ukrainian missile and drone attack.

Novorossiysk

Russian forces have invaded Ukraine from land, air and sea with strikes causing widespread damage. Global leaders have condemned the move and imposed sanctions.

Ukraine Invasion

A Ukrainian drone and missile attack struck the Russian oil export hub at Novorossiysk, temporarily halting shipments from the Black Sea port. Industry sources reported the suspension affected 2.2 million barrels per day, accounting for 2 percent of global oil supply, and led to a more than 2 percent increase in oil prices.

Russian officials stated the attack damaged a docked ship, apartment buildings, and an oil depot, injuring three crew members. Ukrainian President Volodymyr Zelensky said Kyiv had also fired long-range cruise missiles at targets in Russia, but did not specify locations. Reuters could not independently verify the reports, and there was no immediate comment from Ukrainian officials.

Ukraine attack halts shipments from key Russian oil hub, sources say

A Ukrainian drone and missile attack hit a key Russian oil export hub Friday, temporarily halting shipments from the Black Sea port of Novorossiysk. Industry sources said the attack forced the suspension of oil exports equivalent to 2.2 million barrels per day, or 2 percent of global supply. Oil prices rallied by more than 2 percent on supply fears after the attack. Russian officials said Friday's attack had also damaged a docked ship, apartment buildings and an oil depot in Novorossiysk, injuring three of the vessel's crew members. It comes after Ukraine in August stepped up strikes on Russian oil refineries in an attempt to degrade Moscow's ability to finance its war. Ukrainian President Volodymyr Zelensky said on Friday Kyiv had also fired long-range Long Neptune cruise missiles at targets in Russia overnight, adding that such strikes were getting more successful all the time. He mentioned no targets. The governor of the Russian region where the port is located said on social media that more than 170 people and 50 pieces of equipment dealt with the aftermath of the attack, quickly extinguishing fires and assisting residents. Reuters cannot verify the accounts of the attacks and there is no immediate comment from Ukrainian officials.

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Ukraine attack halts shipments from key Russian oil hub, sources say

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