"Ukraine Drone Attack Sparks Oil Price Surge and Threatens Russian Fuel Terminal"

Oil prices surged over 2% following a suspected drone attack by Ukraine on a major Russian fuel terminal, raising concerns about potential supply disruptions. The attack targeted the Ust-Luga facility, a significant oil export terminal on the Baltic Sea, highlighting the vulnerability of such infrastructure to drone strikes. Geopolitical tensions in the Middle East, including attacks by Iran-allied militants and the resumption of oil production in Libya, have also contributed to market uncertainty. Despite these events, traders remain focused on the supply and demand outlook, with conflicting forecasts from the International Energy Agency and OPEC shaping investor sentiment.