Overview

• Russia’s pipeline operator Transneft has restricted storage on its system and warned producers it may have to accept lower volumes after recent attacks on export terminals and refineries, industry sources told Reuters.
• A key processing unit at the 355,000 bpd Kirishi refinery was taken offline after weekend drone strikes, and two Aframax tankers, the Kusto and the Cai Yun, were damaged at Primorsk, where loading has been constrained and delayed.
• Ukraine said it struck Rosneft’s Saratov refinery overnight, with explosions and a fire reported near the plant; the extent of damage has not been independently verified.
• Oil rose more than 1% on Tuesday and held near $68.5 Brent and $64.5 WTI early Wednesday as traders weighed potential supply risk, with Goldman Sachs estimating about 300,000 bpd of Russian refining capacity offline in August and September to date.
• Moscow has downplayed the impact, saying hundreds of drones were intercepted and dismissing the Transneft warning as false, while President Trump pressed allies to halt Russian oil purchases and the EU signaled a faster phase-out and new sanctions.