Novorossiisk Oil Shipments Restart After Drone Strike Halt as Prices Ease

Looming U.S. sanctions on Lukoil and Rosneft keep supply risks in focus.

Overview

Loading at the Black Sea terminal resumed after roughly two days, according to industry sources and LSEG data.
The stoppage at Novorossiisk and a nearby CPC facility temporarily sidelined about 2.2 million barrels a day, or roughly 2% of global supply.
Brent and WTI rose more than 2% on the outage, then eased when exports restarted and traded near flat on Tuesday.
Transneft halted crude flows to the port during the disruption, underscoring fragile operations following the strikes.
Ukraine reported additional hits on Russian energy sites, while U.S. rules taking effect on November 21 will bar transactions with Lukoil and Rosneft.