The Novoshakhtinsk oil refinery in southern Russia, one of the largest fuel suppliers in the region and a key supplier for the Russian military, has been burning for five consecutive days following a Ukrainian drone attack earlier this week. The attack targeted fuel storage tanks, igniting a major blaze that has required over 400 firefighters to attempt containment. The ongoing fire has contributed to scattered fuel shortages across southern Russia and exacerbated a summer fuel crisis amid high seasonal demand. Concurrently, Ukrainian strikes have also disrupted the Druzhba oil pipeline, a critical conduit for Russian crude to Hungary, prompting strong condemnation from Hungarian Foreign Minister Péter Szijjártó. He urged Ukraine to cease attacks on Hungary’s energy security, emphasizing that the conflict is not Hungary’s war. Ukrainian President Volodymyr Zelensky responded with threats implying that the future of the Friendship pipeline depends on Hungary’s political stance. These developments have heightened tensions between Hungary and Ukraine, with Hungary rejecting Zelensky’s intimidation. The attacks on Russian energy infrastructure have pushed global oil prices higher, as investors weigh supply risks amid the ongoing conflict and potential U.S. interest rate cuts. Market analysts note that the risks for crude oil prices are shifting upward due to Ukraine’s effective targeting of Russian oil assets.