Global oil prices climbed by nearly 3 per cent on Tuesday, January 13, 2026, after fresh drone attacks on critical export infrastructure in the Black Sea region reignited fears of supply disruption. The rally was driven largely by heightened geopolitical risk, as traders moved swiftly to price in a potential squeeze in global crude supply.
Brent crude, the benchmark most relevant to Nigeria, led the gains, rising 2.32 per cent to $65.35 per barrel. WTI crude followed closely, advancing 2.50 per cent to $60.99, while Murban crude gained 2.38 per cent to $65.40 per barrel. Natural gas also edged higher, up 0.15 per cent to $3.414, reflecting broader energy market volatility.
Drone strikes at Black Sea terminal trigger market reaction
The immediate trigger for the price jump was a renewed wave of drone attacks targeting the Caspian Pipeline Consortium (CPC) marine terminal near Novorossiysk, a major export hub handling about 2 per cent of global daily oil supply. According to reports, two oil tankers waiting to load crude from Kazakhstan’s largest oilfields were hit during the incident, raising concerns over safety and export continuity.
The CPC terminal is a critical artery for Kazakhstan, which relies on the pipeline for roughly 80 per cent of its crude exports. Any disruption to operations at this facility has far-reaching implications for global supply, especially given the involvement of international oil majors such as Chevron, Shell, Eni, and ExxonMobil in the upstream assets feeding the pipeline.
Export route vulnerability amplifies supply concerns
Although crude continues to flow through the CPC system, the attacks have reportedly affected loading schedules and vessel movements, tightening near-term supply expectations. Markets reacted sharply because Kazakhstan has already faced repeated interruptions at the terminal over the past year, including storm damage and structural issues that previously forced producers to scale back output.
In response to earlier disruptions, Kazakhstan had begun rerouting some exports away from the Black Sea. However, the CPC route remains dominant, making it difficult to fully offset any prolonged operational challenges. This fragility has kept traders on edge, prompting a rapid build-up of a geopolitical risk premium in oil prices.
Why the 3% jump matters for the global oil market
The nearly 3 per cent rise reflects more than just a headline reaction. It highlights how sensitive the oil market remains to infrastructure threats at a time when spare production capacity is limited. With Brent holding above the $65 per barrel level, technical buying also kicked in, reinforcing bullish momentum across major benchmarks.
For oil-producing and oil-importing countries alike, the rally is a reminder that geopolitical flashpoints can quickly override bearish fundamentals. As long as risks around key export routes persist, oil prices are likely to remain volatile, with traders closely monitoring developments in the Black Sea region for the next market-moving signal.