Ukraine's drone strike on Russian port shakes up global oil prices

Business Nov 15, 2025

Oil prices jumped over 2% after a Ukrainian drone hit Russia's Novorossiisk port, damaging a ship, apartment blocks, and an oil depot.
Three crew members were hurt and exports from this major hub stopped for now.
The sudden supply scare pushed Brent crude to $64.39 per barrel and West Texas Intermediate to $60.09.

Why does this matter?

Novorossiisk handles about 2% of the world's oil—so its shutdown means less oil on the market right when new US sanctions on Russian energy giants are about to kick in.
Investors are watching closely as these disruptions could make fuel even pricier worldwide, all while Ukraine ramps up efforts to disrupt Russia's trade routes amid the ongoing conflict.