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Oil futures jump above $87 as Russia-Ukraine Black Sea attacks escalate
Russia’s drone strike on a cargo ship in Ukraine’s Odesa region killed five seafarers and injured 12, adding risk to shipping tied to global fertilizer and food supply chains.
Oil futures rose above $87 as fighting in the Black Sea escalated, with a Russian drone strike on a commercial vessel in Ukraine’s Odesa region drawing new attention to risks for maritime trade. OilPrice said Odesa authorities reported the strike hit a Togo-flagged general cargo ship while it was unloading fertilizer, sparking a major fire.
The reported casualty toll was five seafarers killed and 12 injured, one of the deadliest single attacks on commercial shipping since the war began, according to OilPrice. Ukraine’s officials said the strike was meant to intimidate international shipping and disrupt global food security, while Russia’s defense ministry claimed the attacks targeted military cargo.
OilPrice also linked the broader uptick in strikes to ongoing disruption around Odesa ports over several days, including earlier attacks that killed port workers, drivers, and sailors. That pressure has forced major agricultural company Kernel to temporarily suspend operations at nearby Chornomorsk ports.
With Brent crude quoted at $84.03 and WTI at $78.76 during the move cited by OilPrice, the article said the rally resumed after Iran escalated attacks in the Middle East and unfolded alongside Ukraine’s reported counter-drone campaign against Russian shipping in the Sea of Azov and Taganrog Bay.
Latest closeWTI crude $78.04 ▲9.3%|Brent $83.15 ▲9.4%