Ust-Luga strike confirmed: what a dark Baltic oil port does to aframax rates and war-risk premia

Russia's main Baltic oil loading port is burning, and the tanker market is repricing the risk on loaded and waiting aframaxes in the Gulf of Finland. Overnight November 10 and into the morning of November 11, Ukrainian drones struck the Ust-Luga petroleum terminal in Leningrad Oblast, west of St. Petersburg, setting fire to the facility so large it was reported visible from neighboring Estonia and registered on NASA FIRMS infrared detections, according to The Maritime Executive. Leningrad region governor Aleksandr Drozdenko confirmed the attack on Russian social media, saying three workers were injured and 150 drones were shot down, with the regional airport temporarily shuttered as a precau…