Ukrainian drones have reportedly attacked targets in the Russian port city of Primorsk, located in the northern part of the Gulf of Finland in the Baltic Sea. Primorsk is one of Russia's most important crude oil export ports, and a fire has reportedly broken out, which has now been extinguished, according to the Reuters news agency. President Volodymyr Zelenskyj says that Ukrainian forces attacked two ships in the so-called Russian shadow fleet as they approached the Black Sea port city of Novorossiysk.

Global oil shortages to hit within weeks – Chevron CEO Physical oil shortages could emerge globally within weeks due to the closure of the Strait of Hormuz, Chevron CEO Mike Wirth has warned Read Full Article at RT.com

State payments to oil exporters consume nearly half of Russia’s windfall from high prices, data show Russia’s Finance Ministry released April oil and gas revenue figures showing taxes paid by exporters for March — the first full month of the U.S.-Israeli war with Iran, when oil prices spiked sharply. The independent Russian political newsletter Faridaily was among the first to flag the publication.