Gasoline prices in Crimea have surged nearly 80% in a week amid Russia's export restrictions and supply shortages, signaling increased market volatility for energy investors.
The US has again extended a temporary license allowing Serbian oil company NIS, partly owned by Gazprom, to operate under sanctions, prolonging uncertainty for investors.
Ukrainian drone strikes have forced Lukoil's NORSI refinery to halve its capacity, affecting a quarter of Russia's refining output and tightening domestic fuel supplies.
Rising jet fuel prices amid Middle East conflict force airlines to cut global flight capacity by 3% in May, pressuring aviation equities and bond markets.