International

Ukraine conducts strikes on two Russian oil refineries

PBS · July 29, 2026Original source ↗

Ukraine conducts strikes on two Russian oil refineries

What happened

Ukrainian forces targeted two major oil refineries in Russia during overnight operations. This action follows a meeting between Ukrainian President Volodymyr Zelenskyy and former U.S. President Donald Trump.

Why it matters

This event underscores the ongoing military conflict between Ukraine and Russia and its implications for global energy markets.

How this story affects people

How does this story affect you if you rent your home?

Higher energy prices could lead to increased living costs, affecting your monthly rent as landlords may pass on these expenses.

How does this story affect you if you are a small business owner?

Rising fuel prices could increase operational costs, impacting your business's profitability and potentially leading to higher prices for consumers.

How does this story affect you if you are a saver or investor?

Fluctuations in global energy markets due to military actions may affect investment portfolios, particularly those linked to energy stocks and commodities.

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