UKRAINE'S MILITARY STRUCK FIVE OF RUSSIAN MAJOR OIL REFINERIES SINCE OCTOBER 30 - GENERAL STAFF

Ukraine's General Staff reported that its military has struck five major Russian oil refineries since October 30. The transmission channel here is supply disruption: refinery outages reduce Russia's processing capacity, which can tighten product markets for diesel and gasoline and redirect crude toward export or storage, with knock-on effects for refining margins globally. Oil markets and refined product cracks are the most directly exposed, while Russian energy exporters and the ruble face sentiment and cash-flow pressure if outages persist. Traders will be watching weekly inventory data from the U.S. Energy Information Administration for signs of product tightness, and any official Russian statements on refinery capacity or export restrictions.

Crude oil (WTI/Brent) reacts in real time to OPEC+ production decisions, EIA weekly inventory reports, geopolitical supply disruptions (Middle East, Russia, Venezuela) and US Strategic Petroleum Reserve announcements. A 5% intraday move on breaking news is not unusual.

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