Brent crude futures climbed in early Tuesday trading after a fire broke out near India's Haldia oil refinery, reigniting concerns about regional supply stability.
The incident, which occurred in the early hours of the day, has raised immediate questions about potential output disruptions at the facility located in West Bengal.
Local media initially reported a massive fire at the refinery complex, prompting swift market reaction.
The company operating the refinery stated that several people were injured in the blaze, which originated near an unauthorized naphtha theft point.
Local media initially reported a massive fire at the refinery complex, prompting swift market reaction.
While the exact operational impact remains unclear, the proximity of the fire to critical infrastructure has heightened risk premiums in energy markets.
This development adds to a growing list of supply-side vulnerabilities in global oil markets.