Brent crude prices climbed in early trading after reports emerged of a drone attack on a major Russian oil refinery in Ufa, the capital of the Bashkortostan Republic.
The strike marks the second time Ukrainian forces have targeted the Bashneft-Ufaneftekhim facility in less than a week, according to President Volodymyr Zelenskyy.
Local residents reported hearing explosions and seeing drones over the city, confirming the intensity of the strike.
Geolocated footage obtained by the independent Russian outlet ASTRA showed two columns of black smoke rising from the plant.
Local residents reported hearing explosions and seeing drones over the city, confirming the intensity of the strike.
The facility is located more than 1,300 kilometers from the active frontline, underscoring the expanding reach of Ukraine’s drone campaign into Russia’s industrial heartland.
The attack adds to mounting supply-side pressures on Russian oil production.
Correction (1 August 2026): a key point previously conflated this strike with a separate reported attack in the Ulyanovsk region.