US President Donald Trump stated that Ukrainian President Volodymyr Zelensky agreed to scale back attacks on Russian oil refineries to stabilize global energy prices. Meanwhile, Tehran refused to soften its demands for reopening the Strait of Hormuz, and Belarusian petrol shipments to Russia are projected to surpass 1 million tonnes over nine months.
Global market
US President Donald Trump stated that Ukrainian President Volodymyr Zelensky promised to reduce strikes on Russian oil refineries to prevent fuel price spikes. Trump also predicted a sharp decline in crude oil prices following the conclusion of US operations against Iran. In response, Iranian Foreign Minister Abbas Araghchi stated that Tehran will not ease its conditions for reopening shipping through the Strait of Hormuz after the White House rejected its proposal. In maritime logistics, freight rates for clean LR2 product tankers climbed, while reviving Venezuela’s oil sector is estimated to require over $100 billion in investment.
Russia & CIS
LUKOIL founder Vagit Alekperov topped the Forbes list of Russian billionaires in dividend income with 106.2 billion roubles. In fuel supplies, gasoline imports from Belarus to Russia over nine months of 2026 are expected to exceed 1.05 million tonnes, with September deliveries reaching 205,000 tonnes. In energy infrastructure, an equipment failure at a Far Eastern Distribution Grid Company substation in Shtykovo caused power and water outages in parts of Vladivostok and Artem. Additionally, authorities in Buryatia imposed restrictions on fuel sales to minors.
Armenia
White House statements regarding reduced refinery attacks and Tehran’s stance on the Strait of Hormuz dominated regional analysis, news.am reported. Volatility across international fuel markets remains a critical consideration for regional energy stability. Nevertheless, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas supplies and operations at the Armenian Nuclear Power Plant proceed without disruption under long-term EAEU trade agreements shielding domestic consumers from price volatility recorded by international market price assessments.