Persian Gulf crude oil exports rebounded to 81% of pre-war levels in September as Saudi Arabia raised shipments to 6.6 million barrels daily, offsetting zero exports from Iran. Meanwhile, the World Bank warned that emerging Asian economies are depleting budget reserves for energy subsidies, and the Saint Petersburg exchange restricted fuel market data.
Global market
Persian Gulf crude oil exports recovered to 81% of pre-war levels in September, analytics firms Kpler and Vortexa reported, even as Iranian oil exports dropped to zero. The recovery was driven by Saudi Arabia, which boosted crude exports from 4.2 million barrels per day in August to 6.6 million bpd in September, fully offsetting regional shortfalls. Concurrently, the World Bank warned that developing Asian nations are running out of financial resources to subsidize domestic fuel prices amid ongoing Middle Eastern hostilities. In European market shifts, the European Union formed a dedicated working group for joint energy procurement, while the share of Russian pipeline and liquefied gas in EU imports fell to 12%. Following global inventory shifts, Brent crude prices settled near $100.90 per barrel.
Russia & CIS
The Saint Petersburg International Mercantile Exchange (SPbMTSB) halted publication of select daily fuel trading data on October 6 to safeguard market intelligence against external pressure. On technology and grid security, Rosatom Deputy Director General for Science and Strategy Evgeny Abakumov ruled out transferring power grid control to artificial intelligence, citing safety risks. In financial markets, the MOEX Russia Index held above 2,300 points led by Surgutneftegas shares, while mobile operator MTS unveiled a standalone base station featuring a diesel generator capable of operating for 12 days on a single tank. In security incidents, Ukrainian drone strikes targeted a major oil depot in the Moscow region, forcing 14 incoming flights to divert to Nizhny Novgorod airport.
Armenia
Rebounding Persian Gulf crude exports and drone strikes against fuel depots near Moscow remain a focal point for Armenian analysts, evaluating regional supply chain resilience. Despite global market volatility and Brent crude holding near $100.90 per barrel, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas shipments from Russia and continuous electricity generation at the Armenian Nuclear Power Plant proceed at full capacity under long-term EAEU trade agreements shielding domestic consumers from price spikes recorded by international market price assessments.