Ukraine hits two oil refineries deep in Russian territory

Ukraine said it struck two major Russian oil refineries, Bashneft-Novoil and Slavneft-Yanos, in deep-reach attacks aimed at disrupting Moscow’s oil revenue stream and war financing. The report also says Ukrainian forces hit patrol boats and shadow-fleet vessels in the Black Sea. The attacks come amid intensified cross-border strikes on energy and transport infrastructure on both sides, with Russia reporting drone interceptions and Ukraine suffering fatalities and blackouts from retaliatory strikes. For oil markets, the key takeaway is elevated geopolitical risk: damage to refining capacity and export logistics can tighten product supply, support crude and refined-product prices, and increase volatility in the energy complex.