Port of Novorossiysk resumes operations after strike: implications for the oil market.

Port 'Novorossiysk' starts oil loading again

After two days of inactivity caused by a missile attack and drone strikes from Ukraine, the Russian port of 'Novorossiysk' has resumed operations. The information has been confirmed by two sources in the oil industry, citing data from Reuters.

The shutdown of the 'Novorossiysk' port and the Caspian Pipeline Consortium terminal led to a temporary halt in oil exports on November 14. This affected 2% of global oil supplies, which amounts to about 2.2 million barrels per day.

Experts emphasized the importance of the 'Novorossiysk' port for Russian oil exports. A long-term closure of this facility could lead to a stoppage of oil wells in Western Siberia, which, in turn, would impact supply volumes to global markets.

Ukraine's attack on Russian oil infrastructure

The agency reported that the attack on the 'Novorossiysk' port, which is a key export hub for Russia in the Black Sea, was the most destructive blow from Ukraine against Russia's oil infrastructure in this region.

Special units of the SBU 'Alpha' together with other military formations of Ukraine conducted an operation at the oil terminal of the 'Novorossiysk' port, resulting in damage and a fire at the facility. President Volodymyr Zelensky confirmed the effectiveness of using 'Long Neptune' missiles on Russian territory.

After the missile attack and drone strikes from Ukraine, the 'Novorossiysk' port resumed its activities. This is a significant event as the port has a substantial impact on Russian oil exports; delays in its operation can have serious consequences for global supplies.

Thus, the resumption of operations at the 'Novorossiysk' port is an important step for Russia, which relies on oil exports. Any disruptions could significantly affect the global energy resource market. The situation will remain tense due to the potential for further attacks on oil infrastructure.