Tehran has established a naval restricted zone from Chabahar into the Gulf of Oman following escalated strikes between US forces and Iranian tankers. The confrontation drove Brent crude above $102 per barrel as US sanctions on Iranian payment networks force Asian refiners toward costlier Russian crude.
Global market
Brent crude futures surged to $102.09 per barrel on the ICE exchange, while WTI reached $96.97 following escalating naval clashes. Iran’s Islamic Revolutionary Guard Corps declared a maritime restricted zone stretching from Chabahar into the Gulf of Oman, following warnings from Iranian National Security Secretary Mohsen Rezaei. To enforce pressure, Washington sanctioned workaround payment networks in China, prompting state refiner Sinopec to replace cheap Iranian oil with premium Russian crude. Concurrently, Sinopec Vice President Feiyi Wang projected China’s EV market share to reach 75%-80% by 2030. Elsewhere, Australia relaxed gas reservation rules for LNG producers to up to 20% of output, while clean energy investment fell 17% in H1.
Russia & CIS
Leningrad Region Vice Governor Yegor Mishcheryakov warned of a second fuel crisis wave, anticipating reduced refinery shipments following drone strikes. On the stock market, shares of Russian fuel operator Eurotrans collapsed by over 90% since its IPO, touching a low of 21.05 rubles amidst top management arrests in an MVD fuel theft probe. In nuclear security, Russian Envoy to International Organizations in Vienna Mikhail Ulyanov warned that safety around the Zaporizhzhia NPP and Enerhodar has critically deteriorated due to targeted drone attacks. Meanwhile, Federal Air Transport Agency Head Dmitry Yadrov stated that certification for the Sukhoi Superjet-100 is scheduled for Q1 2027.
Armenia
European stock indices fell following the sharp surge in global crude benchmarks, news.am reported as Middle Eastern supply disruptions impacted international markets. Escalating naval strikes in the Persian Gulf continue to heighten transit risks for regional energy importers. Domestically, Armenian law enforcement agencies initiated measures to confiscate all registered firearms from former high-ranking officials, according to local reports. Despite global logistics stress and rising crude benchmarks, retail petrol, diesel, and gas prices in Armenia remain stable under long-term bilateral agreements within the EAEU, shielding consumers from volatile international market price assessments.