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Ukrainian drone attack on Russian port boosts oil prices amid supply fears.
Oil prices rose about 2% on Friday after a Ukrainian drone attack damaged an oil depot, ship, and buildings in Novorossiysk, a major Russian Black Sea export port, raising concerns over supply disruptions.
Brent crude and U.S. West Texas Intermediate both climbed, reversing earlier losses tied to an OPEC forecast of balanced global oil markets in 2026.
The attack, the latest in a series targeting Russian energy infrastructure, follows a similar strike at Tuapse two weeks prior.
Meanwhile, U.S. sanctions on Russian oil firms Lukoil and Rosneft, set to take full effect November 21, are already slowing exports, with JPMorgan estimating up to 1.4 million barrels per day of Russian oil now stranded on tankers.
El ataque de drones ucranianos en el puerto ruso aumenta los precios del petróleo en medio de temores sobre el suministro.