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Russia bans diesel exports to ensure domestic supply after targeted Ukrainian drone strikes
Russia has banned diesel exports to support its domestic fuel market. This action follows Ukrainian drone attacks on oil refineries causing shortages. Drivers are experiencing long queues at filling stations across many regions. The export ban will remain in place until the end of July. Russia plans to begin importing fuel during the month of July.
Ukrainian drone attacks on oil refineries plunge Russia into a summer fuel crisis
Ukrainian drone strikes on Russian oil refineries are causing widespread fuel shortages and long queues at gas stations across Russia. This unprecedented crisis, impacting ordinary citizens and businesses, has led to rationing in many regions. President Putin acknowledged the issues, calling them temporary, but motorists report a stark contrast between official statements and reality. The attacks are disrupting Russia's energy production and impacting its economy.
Ukraine Hits Moscow Oil Refinery, Disrupts Flights; Zelenskyy Claims 'Justified Response'
Russia reported one of the largest Ukrainian drone attacks on Moscow in nearly two years.
Falling drone debris causes fire at oil terminal in Russia's Novorossiysk
Drone debris ignited a fire at a Novorossiysk oil terminal, injuring two people. Russian officials reported additional drone attacks targeting industrial sites in Perm and Ryazan regions. Ukraine has escalated drone strikes on Russian oil facilities, aiming to disrupt revenue crucial for funding the conflict.
Gold slips to over one-month low as West Asia tensions lift oil prices
Gold was pressured by rising geopolitical tensions after a drone strike caused a fire at a nuclear power plant in the United Arab Emirates, lifting crude prices and bets of interest rates
Asian shares slip as drone attacks in Gulf lift oil prices, bond yields
Japan's Nikkei eased 0.4 per cent, having fallen 2 per cent last week, though that was from record highs
Oil jumps over 5% after drone strike hits UAE petroleum facility
Drone strike on a Fujairah petroleum site in the UAE sends Brent above 115 dollars, WTI to 105.3, heightens US Iran tensions in Strait of Hormuz, Indian stocks pare gains
Strike forces fresh halt to oil loading at UAE’s Fujairah port, underscoring risks to global supplies
Port of Fujairah, a vital UAE oil hub, faced another strike. Oil loading operations were suspended. This follows a recent drone attack that caused a fire. The port bypasses the Strait of Hormuz. These repeated disruptions highlight energy supply risks. Crude futures have risen amid fears of further attacks.
Stocks in news: IndiGo, RIL, Torrent Power, ideaForge, NTPC Green
Indian markets experienced a sharp sell-off, extending the downtrend amid global concerns and geopolitical tensions. Nifty faces immediate support at 23,500, with resistance expected around 24,000-24,300. IndiGo flights faced airspace issues, while Reliance Retail acquired 'Pahadi Local'. Torrent Power raised Rs 2,000 crore via NCDs, and ideaForge began drone training for NATO personnel.
Bahrain's state oil company declares force majeure on its shipments after Iran attacked nation's only oil refinery
Iranian drone strikes on March 9 targeted Bahrain's Sitra, damaging vehicles and buildings. Bahrain's state oil company declared force majeure on shipments.
Solar Defence announces Rs 12,800 crore investment in robotics, drone and deep tech projects
Solar Defence and Aerospace Limited will invest over Rs. 12,800 crore in manufacturing robots, drones, and missiles. The company plans to produce 10,000 drones and 1,000 robots annually. This investment will span the next three to four years. The facility will be India's first AI-Powered Industry 5.0 manufacturing ecosystem. Advanced AI-Powered UAVs, including MALE drones, will be a key focus.
Iran Guards claim ‘complete control’ of Strait of Hormuz, warn ships face missile and drone risk
Israel-Iran War: The Iranian Revolutionary Guard Corps has stepped forward with a significant statement, claiming sovereignty over the pivotal Strait of Hormuz—a corridor that facilitates a vast amount of the world's oil and gas shipments. Their cautionary note to vessels indicates potential threats from missiles or drones, coinciding with a surge in regional tensions.