December 4, 2025–Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)–IIR Energy continues to monitor developments in Kazakhstan after a suspected Ukrainian drone strike hobbled an export terminal for one of the larger crude oil delivery networks in the world.
Crude oil prices started the week with a heavy risk premium after U.S. military pressure increased on Venezuela and a drone hit a port on Kazakhstan. Authorities reported damage to a berth at the Novorossiysk Refined Products & Chemicals Storage Terminal, which handles deliveries from the Caspian Pipeline Consortium (CPC).
