How are Ukraine strikes, Mideast war driving US fuel prices?
Ahead of next month’s midterm US elections, Donald Trump has increasingly blamed Ukrainian strikes on Russian refineries for surging energy prices back home, which are causing the president political headaches. However, analysts say the main driver of higher fuel prices remains the US–Iran war. Which Russian sites have been targeted? Ukraine has intensified its drone attacks on Russia’s energy industry over the past 18 months, seeking to cut the Kremlin’s revenues and undermine its ability to finance the war. The strikes have targeted “mostly refineries”, Julien Mathonniere, an economist at…