Ukraine power grid disruptions intensify as Russian strikes continue

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Ukraine power grid disruptions

Highlights

Russian strikes on Ukrainian power infrastructure in four regions cut electricity to hundreds of thousands, exploiting interceptor missile shortages and escalating grid disruptions.
Ukraine claims to hit Russia's Kamensky plant in the Rostov region and conducts a major drone attack damaging an industrial facility in Nizhny Novgorod, impacting local fuel supplies.
Russian Deputy Prime Minister Alexander Novak warns Ukrainian strikes on refineries are influencing global fuel market prices, raising economic risks for energy assets on both sides.

Escalating strikes on energy and industrial sites

As reported by CNBC, Ukrainian President Volodymyr Zelenskyy says Russian strikes hit power infrastructure in four Ukrainian regions overnight, cutting electricity to many households and leaving hundreds of thousands without power on Sunday. He says the attacks remain highly intense and are exploiting shortages in missile interceptors.

Fighting continues along the front line even as a six-day local ceasefire around the Russian-controlled town of Oleshky reaches its final day. Ukraine's air force says it shoots down 371 of 433 long-range drones launched by Russia since Saturday evening, while dozens of Russian drones are still flying on the morning of November 1 and Kyiv has faced six separate alerts since midnight.

Zelenskyy also says Ukraine targets the Kamensky plant in Russia's Rostov region, which he identifies as involved in missile production. Moscow does not comment on that claim.

Fuel supply concerns widen regional impact

The governor of Russia's Nizhny Novgorod region says a large-scale Ukrainian drone attack causes major damage to an industrial facility, though he does not identify the site. Russia's Defense Ministry says it shoots down 235 Ukrainian drones.

Nizhny Novgorod's regional government says steps are being taken to maintain fuel supplies to gas stations and urges motorists not to panic buy, indicating a possible link between the damaged facility and local oil-refining infrastructure. The exchange of strikes highlights the growing economic risks around energy assets on both sides, as Ukraine says it wants a ceasefire covering energy targets but argues Moscow is unwilling to agree.

Russian Deputy Prime Minister Alexander Novak says Ukrainian attacks on Russian refineries are affecting global fuel market prices, though he does not refer directly to the latest Nizhny Novgorod attack.

Our earlier report on the spike in oil shipping costs explained how conflict-related risks are pushing tanker and insurance rates to record highs, making freight a much larger share of crude prices. We noted that rerouting away from danger zones and tighter vessel availability are lifting costs for importers and refiners, with the impact filtering through to gasoline and broader consumer prices.

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