London requested an exemption from a potential US diesel export ban as UK fuel prices hit record highs, while 80 nations called on the UN to reopen the Strait of Hormuz. Meanwhile, Rosatom confirmed ongoing nuclear projects at the Armenian Nuclear Power Plant, and Washington extended gas payment flexibility for foreign buyers.
Global market
UK Chancellor of the Exchequer John Healey confirmed London requested an exemption from a potential US diesel export ban after UK retail diesel reached a record 199.18p per litre. Analysts warned that a US export restriction could raise global fuel prices and force refinery run cuts as domestic US diesel hit $6.50 per gallon. At the UN, 80 countries signed a joint statement delivered by Bahrain Foreign Minister Abdullatif bin Rashid Al Zayani calling for the immediate reopening of the Strait of Hormuz. On commodity exchanges, Brent crude rose 1.70% to $106.09 per barrel, while the US Strategic Petroleum Reserve fell to 283.8 million barrels, its lowest level since October 1982.
Russia & CIS
Rosatom Director General Alexey Likhachev informed Russian President Vladimir Putin that the state corporation’s overseas order portfolio includes 45 power units across 13 countries. In regulatory developments, Russian President Vladimir Putin signed a decree restricting public access to specific fuel and energy sector data and extended decree provisions allowing foreign buyers to pay for Russian gas through banks other than Gazprombank until April 2027. In international sanctions, US lawmakers called on Treasury Secretary Scott Bessent to reinstate sanctions on Serbian oil firm NIS, prompting Belgrade to evaluate buying out Gazprom Neft’s stake.
Armenia
Rosatom Director General Alexey Likhachev emphasized to Russian President Vladimir Putin that Armenia remains an indispensable partner as work continues on extending the Armenian Nuclear Power Plant’s operational lifespan, am.sputniknews.ru reported. Armenian energy analysts monitored US diesel export ban negotiations and maritime disruptions in the Strait of Hormuz. Nevertheless, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas imports and operations at the Armenian Nuclear Power Plant proceed reliably under long-term EAEU trade agreements shielding domestic consumers from global price volatility recorded by international market price assessments.