The US has requested that Ukraine temporarily halt strikes on Russian energy infrastructure during a high-profile diplomatic visit to Moscow, as global energy markets face mounting supply pressures. At the same time, despite sanctions, millions of barrels of European gasoline are entering Russia through North African blending hubs.
Global market
The United States remains the world’s top nuclear power producer, accounting for one-third of global output, but its fleet is rapidly aging. The average age of the country’s 96 commercial reactors has reached 44 years, with almost all being Gen II models built before 2000. Under pressure to expand fossil fuel production, the US Bureau of Land Management proposed fast-tracking oil permits in Alaska’s petroleum reserve to just 60 days. Meanwhile, active US drilling rigs held steady at 588, with active oil rigs rising by 2 to 449 and gas rigs dropping by 2 to 130, according to Baker Hughes. Additionally, hedge fund Citadel is shopping for US shale assets after missing a bid for WildFire Energy, which Magnolia Oil & Gas acquired for 4.06 billion dollars.
Russia & CIS
Russia imported an estimated 3.85 million barrels of UK and EU gasoline and diesel in July and August 2026 through a Moroccan blending hub to compensate for refining losses from Ukrainian drone strikes, according to Windward and Vortexa. To manage regional tensions, the US requested Ukraine to temporarily suspend attacks on Russian energy facilities during the diplomatic visit of US special envoy Steve Witkoff and negotiator Jared Kushner, according to The New York Times. Meanwhile, Russian Deputy Prime Minister Alexander Novak announced that a critical pipeline connector between the Power of Siberia 1 and the Sakhalin-Khabarovsk-Vladivostok lines will launch in the first half of 2027, as Russia now routes 80% of its oil exports to Asia-Pacific countries.
Armenia
Iraq is urgently seeking to charter tankers to transport oil through the Strait of Hormuz amid a return of military strikes and Iranian retaliation, Sputnik Armenia reported. The geopolitical conflict in the Persian Gulf has forced Iraqi officials to hunt for available vessels to bypass maritime blockades as global oil prices fell below 95 dollars per barrel. For Armenia, these tensions highlight the importance of its bilateral agreements. While international energy security is strained, Armenia’s domestic fuel, petrol, and gas tariffs remain stable under EAEU treaties that guarantee duty-free Russian gas and petroleum imports at fixed rates, shielding local consumers from volatile international market price assessments.