#CRUDE OIL

An Orlen Unipetrol refinery in the Czech town of Kralupy nad Vltavou. Photo: orlenunipetrol.cz

Czech gov’t releases crude reserves after Russian cut-off

The Czech government has made a third of its strategic reserves of crude oil available to local refiner Unipetrol after supplies from Russia were unexpectedly halted.

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7% of Russia’s refining capacity idled due to Ukrainian drone strikes

“The strikes on Russian refineries added USD 2- USD 3 per barrel of risk premium to crude last week,” an analyst told Reuters.