Ukrainian attacks on Russian oil refineries hike up prices as US reserves run low

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1 year ago
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News oil prices russia conflict us oil reserves strategic oil reserves

Since the beginning of this year, more than a dozen oil sites across Russia's European region have become prominent targets for Ukrainian drones, thus hiking up the oil prices.

Meanwhile, the US Strategic Oil Reserve has fallen to its lowest level in 40 years, with the Biden administration now canceling plans to replenish it.

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