Oil loadings have resumed at Russia’s Novorossiysk hub after Ukrainian drone strikes forced a brief suspension at two of the Black Sea’s most strategic terminals, Russian TASS news agency reported on Thursday.
Operations at the Caspian Pipeline Consortium’s (CPC) terminal and Transneft’s Sheskharis facility were halted on Wednesday as unmanned aerial and maritime systems targeted infrastructure in the region. Both terminals restarted overnight, but markets are becoming increasingly sensitive to disruptions of Russia’s maritime export corridors as Ukraine intensifies attacks on oil infrastructure.
The CPC terminal alone moves about 1.3 million barrels per day, primarily Kazakh crude bound for Mediterranean refiners. Sheskharis handles Russian Urals, which remain a cornerstone of Moscow’s seaborne flows despite sanctions. Together, the two account for a substantial share of the 2.5-3 million barrels per day shipped from Novorossiysk, making them among the most sensitive nodes in Russia’s export system.
Ukraine has steadily expanded its drone campaign, hitting refineries, depots, and ports across southern Russia in an effort to degrade export logistics and strain revenue. The Black Sea has become a particular focus, as interruptions there can ripple quickly into European markets. Traders note that even short suspensions at Novorossiysk can push up freight rates and alter tanker schedules.
Alongside the attacks near Novorossiysk, Ukraine has continued to target Russia’s wider energy network this week, striking refineries in Ryazan and Astrakhan and attempting drone incursions against fuel storage depots in Krasnodar and Belgorod regions.
Moscow has responded with additional strikes on Ukrainian power infrastructure, including substations in Chernihiv and Poltava. Russia is being forced to divert air defences to protect refineries and ports, and Ukraine is challenged with trying to manage rolling outages while keeping export corridors through the Black Sea open.
While Wednesday’s outage was resolved within hours, repeated disruptions could push differentials for Urals and CPC Blend higher, according to Bloomberg.
As of Thursday morning, at 11:33 a.m. ET, Brent crude was trading at $69.02 per barrel, down 0.42% on the day, with WTI at $64.64, down 0.54%. Murban crude stood at $70.39, while U.S. natural gas prices were $2.97 per MMBtu.
By Tom Kool for Oilprice.com
More Top Reads From Oilprice.com
