Brent crude futures climbed in early trading Tuesday after a massive fire broke out at India's Haldia oil refinery, raising immediate concerns about regional supply disruptions.
The incident, which occurred early Tuesday morning, involved a naphtha-carrying pipeline and resulted in several worker injuries, according to local media reports.
The cause of the fire remains under investigation.
The disruption at the Haldia facility, one of India's significant refining hubs, introduces a new variable into an already tight global energy market.
Traders are assessing the potential impact on naphtha and refined product supplies, with the incident adding to a series of recent supply-side shocks.
The fire underscores the vulnerability of critical energy infrastructure to operational failures, even as geopolitical risks continue to loom.