Ukraine strikes Russian refineries, diesel supply risks rise

The resumption of deep strikes on Russian refining capacity, following a US envoy's visit, signals that diplomatic efforts have not yet translated into a de-escalation of energy infrastructure targeting. This matters because Russian diesel exports are a key swing factor in global fuel balances, and renewed attacks on Perm and Tatarstan facilities could tighten an already fragile market. The open question is whether this marks a sustained campaign or a one-off signal, and how Moscow's response—either through export restrictions or further escalation—shapes supply expectations.