India raised its Middle East crude purchases to 3 million barrels per day in September while reducing Russian oil imports, as global oil markets reacted to Washington maintaining strict sanctions on Iran. Meanwhile, Moscow officially extended its ban on diesel exports for producers through October, and Russian antitrust authorities launched widespread market enforcement actions.
Global market
India increased crude oil imports from Middle East producers to 3 million barrels per day in September, restoring purchases to pre-war average levels while cutting Russian crude buys to 1.75 million barrels per day, according to Kpler data. Brent crude rose to $103.13 per barrel and WTI reached $89.53 per barrel after US President Donald Trump ruled out easing sanctions pressure on Iran. According to JP Morgan analysts, Middle East crude exports recovered to 17.5 million barrels per day, representing 98% of pre-war levels, while Middle East fuel exports reached 3 million barrels per day. Concurrently, US President Donald Trump held consultations with advisers regarding potential restrictions on international diesel sales as domestic and global fuel markets tightened.
Russia & CIS
The Russian Government officially extended the export ban on diesel and marine fuel for producers through October 31, 2026, according to an official Cabinet decree. To enforce market compliance, the Federal Antimonopoly Service (FAS) opened 58 administrative cases against oil companies and independent fuel traders, issuing 91 formal warnings. In corporate developments, Gazprom Neft and state carrier Aeroflot signed a strategic agreement to develop sustainable aviation fuel (SAF) and construct a lifecycle supply model. In commodity export markets, Russian coal exports to Egypt surged 2.6 times year-on-year in the first half of 2026 to 1.3 million tonnes, according to data from Argus Media.
Armenia
Armenian energy analysts monitored Washington’s deliberations over potential diesel export limits and Brent crude climbing above $103 per barrel, news.am reported. Local market observers noted that global oil price volatility and shifting Middle East supply lines continue to present external cost risks for regional energy importers. 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 the domestic market from volatility recorded by international market price assessments.