Kyiv’s Long-Range Arsenal Grows, But What Does It Mean for Russian Oil?

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Ukrainian drones struck one of Russia’s largest oil refineries on Sunday, igniting another oil price rally. The drones hit Russia’s Kirishi refinery in northwestern Leningrad region, intensifying weeks of Ukrainian attacks on Russian energy infrastructure. Operated by Surgutneftegas, the giant refinery has a capacity to process 17.7 million metric tons of crude per year (355,000 barrels per day), making it one of Russia’s three largest refineries by output. Previously, U.S. President Donald Trump said he was ready to impose fresh…