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President Trump stated that he expected oil prices to rise further and the stock market to experience a deeper decline, but the movements were milder than anticipated.
Global markets initially reacted with unease after Ukraine launched drone attacks on Russia's second-largest refinery, Kirishi, on March 26 and 27, 2026. Fires broke out in the main units and storage tanks of the facility in the Leningrad region. The refinery was completely shut down, rendering 6.6% of Russia's total refining capacity inoperable. With attacks also targeting the Primorsk and Ust Luga terminals in the Baltic Sea, 40% of Russia's oil export capacity was affected.
In a statement on March 26, President Trump emphasized that despite these developments, the rise in oil prices and stock market movements were not as severe as he had expected. Brent crude oil climbed above $100, reaching $108, but remained far from the $150 forecast. Stock markets also reacted with limited declines. The S&P 500 index fell by 1.7%, but a larger collapse did not occur.
In response, Russia decided to ban gasoline exports starting April 1st. The aim is to stabilize fuel prices in the domestic market and protect stocks. Experts say that supply disruptions can be partially offset by spare capacity in the short term. Trump stated that everything will return to its previous levels and may even fall lower.
This moderate reaction shows that the impact of the energy war on markets has been limited. Global supply risks materialized as Ukraine continued to strike refinery and terminal targets to weaken Russia's war financing. However, the combined effect of tensions in Iran and other factors resulted in less volatility than expected.
As a result, the market reaction is more controlled. President Trump's prediction has been confirmed, and a balanced adjustment is taking place instead of sudden jumps. This soft rise in oil prices is easing both the Russian economy and inflationary pressures globally. Markets will continue to closely monitor developments in the coming days.
#OilPricesResumeUptrend
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#TrumpExtendsStrikeDelay10Days
Russia predicts oil prices could surpass $150. Ukraine's attack on Russia's second-largest refinery is shaking the global energy market. On March 26 and 27, 2026, Ukrainian drones struck the Kirishi refinery in the Leningrad region for two consecutive nights. This massive facility accounts for 6.6% of Russia's total refining capacity. The attacks caused fires in the main processing units and storage tanks. The refinery was completely shut down. The repair time is uncertain.
The Kirishi refinery was not the only target. In recent weeks, Ukraine has also attacked the Primorsk and Ust-Luga oil terminals on the Baltic Sea. These attacks have crippled a significant portion of Russia's oil export capacity. According to experts, 40% of shipments via the Baltic Sea have been affected. While Russia diverts energy revenues to its war budget, Ukraine is making strategic moves to cut off this flow.
In light of these developments, Russian experts and officials state that oil prices could exceed $150 in the coming weeks. Brent crude oil has already climbed above $100. Tensions in Iran and global supply shortages are also pushing prices higher. Russia plans to ban gasoline exports from April 1st to control fuel prices in the domestic market. This step is being taken to both meet domestic demand and protect stocks.
The attacks are directly hitting the Russian economy. Oil and petroleum product exports are Moscow's largest source of foreign exchange. The shutdown of refineries like Kirishi is leading to both production and export losses. Ukraine, on the other hand, aims to weaken Russia's war financing with these operations. Global markets are uneasy. Analysts say that if supply disruptions continue, prices could climb to $150 or even $200.
These events mark a new phase of the energy war. While Ukraine is striking Russia's most critical facilities with long-range drones, Russia is trying to maintain its traditional advantages. However, each new attack further increases tensions in the oil market. Warnings are being issued that the rise in world energy prices could bring inflation and an economic slowdown.
In conclusion, Russia's $150 oil price forecast is not an empty prediction. The repeated attacks on Ukraine's Kirishi refinery have concretized the global supply risk. Markets are closely watching these developments. A potential surge in energy prices could have critical consequences for both the Russian and global economies.
#OilPricesResumeUptrend
#CreatorLeaderboard
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