By Charles Kennedy – Nov 29, 2024, 9:29 AM CST
Ukraine hit on Friday an oil depot in Russia’s southern region of Rostov amid an escalation of attacks from both Russia and Ukraine in recent days.
Early on November 29, Ukraine hit the Atlas oil depot in the Rostov region, the Ukrainian army’s General Staff said on their Telegram channel.
The depot, part of the Russian military-industrial complex, supplies petroleum products for the Russian army, the Ukrainian army said, adding that the depot caught fire as a result of the strike.
Ukraine also destroyed a radar station in Russia hosting the Russian Buk-M3 anti-aircraft missile system, the Ukrainian army said.
The attack comes after a week of intensified drone and missile attacks from both sides.
Earlier this week, Russia launched 188 drones and four cruise missiles at targets in Ukraine — a record number of projectiles in a single attack, Kyiv’s air force said. Critical infrastructure facilities such as the country’s power grid and high-rise apartment buildings were damaged in several regions.
Then Russia unleashed a “massive” attack on Ukraine’s infrastructure on November 28, leaving more than 1 million people without power in freezing temperatures across the country.
Vladimir Putin claimed that the latest attack was Moscow’s “response” to Ukrainian strikes on Russian territory with U.S. medium-range ATACMS missiles.
The end of this year is set to see wild swings in oil prices amid rising geopolitical tensions in the Russia-Ukraine war and the renewed saber-rattling from Vladimir Putin about the potential use of nuclear weapons.
Earlier this month, Ukraine fired long-range missiles supplied by the United States and the UK into Russian territory. Russia, for its part, deployed a new type of medium-range missile to strike the Ukrainian city of Dnipro.
Russia also lowered its threshold of scenarios in which it could use nuclear weapons, in yet another warning from Moscow to the West since the invasion of Ukraine in February 2022.
By Charles Kennedy for Oilprice.com
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