Three Russian oil refineries hit in three days; fire breaks out in Nizhny Novgorod

Ukrainian drones struck Russia's Kstovo oil refining complex in Nizhny Novgorod Oblast on November 1, sparking fires at the Lukoil-operated Nizhegorodnefteorgsintez refinery and an adjacent cogeneration plant, marking the third consecutive day of attacks on Russian refining assets following strikes on the Novokuybyshevsk facility in Samara Oblast on October 30 and a site in Ufa on October 31. The Kstovo refinery ranks fourth among Russian refineries by crude processing capacity and second in motor gasoline output, producing gasoline, diesel, and jet fuel, making it a significant target in Kyiv's campaign against Russian energy infrastructure. Kyiv Post reported fires at multiple locations within the industrial zone, though the full extent of damage and operational impact remains unclear. The escalating strikes on downstream refining capacity could tighten Russian refined product exports and domestic fuel supply, a key watch point for energy markets. Traders should monitor for confirmation of refinery throughput disruptions, Russian product export volumes, and whether Kyiv sustains its tempo of strikes on energy assets.