As the conflict between Russia and Ukraine continues, on October 18, 2026, an air raid on an oil terminal in St. Petersburg causes smoke to rise above the city.
Stringer | AFP | Getty Images
Oil prices hovered near recent highs on Sunday as traders weighed Ukraine’s bombing of Russian oil facilities and further attacks on tankers in the Persian Gulf.
brent Crude oil futures, the international benchmark, fell $1.04 to $108.82 per barrel. us west texas intermediate It fell 26 cents to $101.15 a barrel.
St. Petersburg Governor Alexander Beglov said in a Telegram post that a fire broke out at an oil terminal and warehouse in St. Petersburg after Ukraine launched a large-scale drone attack on Sunday.
The St. Petersburg terminal exports about 120,000 barrels per day of refined products, primarily fuel oil, according to Kpler data. The extent of damage to the facility is unknown.
Ukraine suspended attacks on Russian energy facilities after President Donald Trump declared on October 11 that Kiev and Russia had agreed to a truce.
On June 3, 2026, a Ukrainian drone crashed into infrastructure in St. Petersburg, Russia, causing thick smoke to rise, according to local authorities.
Stringer | Reuters
However, Russia continued to attack Ukraine’s energy infrastructure even after President Trump’s announcement. President Volodymyr Zelenskiy said last week that Kiev would resume attacks on Russian facilities in retaliation.
Meanwhile, in the Middle East, two tankers were attacked off the coast of Saudi Arabia in the Persian Gulf on Friday, according to an incident report from the UK Maritime Trade Operations Center.
According to UKMTO, a small boat fired a rocket-propelled grenade at an unidentified tanker 78 nautical miles northeast of Al Jubail. According to a UKMTO report, another tanker ST3 was struck by an unknown projectile.
Iran has escalated attacks on tankers in the Persian Gulf, Strait of Hormuz, and Gulf of Oman in a bid to halt oil exports from the region.
