Oil advanced as the Middle East braced for escalating conflict after an Israeli strike on Hezbollah targets in southern Lebanon. Global benchmark Brent rose above $79 a barrel, while US marker West Texas Intermediate climbed to near $75. Israel on Sunday morning sent more than 100 warplanes to take out thousands of Hezbollah missile launchers, after which the militant group responded by firing more than 200 projectiles that did limited damage, according to Israeli officials.
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CNBC TV1825-12-2025, 19:35

Ukraine Strikes Russian Oil Rig, Patrol Ship in Caspian Sea

  • Ukraine claims its drones hit a Russian oil rig belonging to Lukoil and a military patrol ship in the Caspian Sea.
  • The attack, officially acknowledged by Ukraine's general staff, is part of recent strikes on Russian drilling infrastructure.
  • The Filanovsky oil rig was reportedly damaged; it had been targeted multiple times in December.
  • Ukraine justifies attacks on Russian oil infrastructure as a means to cut off war financing.
  • Reuters could not confirm the report, and Lukoil was unavailable for comment.

Why It Matters: Ukraine escalates attacks on Russian oil infrastructure, targeting a rig and ship in the Caspian Sea.

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