US President Donald Trump announced that Washington will not impose a ban on diesel exports, coming hours after G7 nations agreed to release 100 million barrels from emergency stockpiles. Meanwhile, Tehran opened a new oil corridor to Tajikistan, and Moscow highlighted Armenia’s economic gains from EAEU membership.
Global market
US President Donald Trump stated Washington will not enact a ban on diesel exports, speaking outside the White House shortly after G7 nations agreed to release 100 million barrels of fuel and crude from emergency reserves. IEA Executive Director Fatih Birol noted in Istanbul that global fuel prices immediately began easing following the G7 decision. Concurrently, Trump announced the US will soon resume crude purchases for the Strategic Petroleum Reserve (SPR). In trade disputes, Trump claimed South Korea agreed to an $8.4 billion enhanced oil recovery project in the US, though Seoul denied the deal. Maritime risks persisted as the US Coast Guard intercepted the Cuba-bound fuel tanker Grace in the Caribbean Sea, while UKMTO reported a missile attack on a crude tanker off Oman.
Russia & CIS
Iran initiated direct crude oil and petroleum product deliveries to Tajikistan, establishing a new energy supply corridor for the Central Asian nation whose fuel imports were historically dominated by Russia, according to Tajikistan’s Ministry of Energy and Water Resources. In regional security developments, The Guardian reported that Kyiv faces a critical shortage of Patriot air defense interceptor missiles, heightening risks for energy infrastructure. On gas markets, European natural gas futures rose 3%, while the US active oil rig count rose by 1 to 456, according to Baker Hughes. Additionally, a fatal rockfall at the Cheremukhovskaya-Glubokaya mine in Sverdlovsk Region resulted in one casualty, temporarily halting operations.
Armenia
Russian Deputy Prime Minister Alexei Overchuk stated that Armenia’s EAEU membership has yielded tangible economic benefits, news.am reported. The remark followed Armenian Prime Minister Nikol Pashinyan’s address to the virtual EAEU summit, where he reaffirmed Yerevan’s commitment to Eurasian economic integration and the unhindered movement of goods and services. On the domestic market, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas supplies and operations at the Armenian Nuclear Power Plant continue reliably under long-term EAEU trade agreements shielding domestic consumers from global price volatility recorded by international market price assessments.