Yemeni Houthis warned workers to evacuate Saudi energy facilities ahead of fresh attacks, as soaring oil costs pushed India’s September inflation to 5.4%. Meanwhile, India reduced purchases of Russian Urals crude amid rising prices, and Tajikistan proposed constructing a major refinery in Central Asia.
Global market
Yemeni Houthi military spokesman Yahya Sarea urged workers to immediately evacuate Saudi Arabian oil facilities, announcing imminent strikes on energy infrastructure. Compounding global consumer pressure, India’s inflation accelerated to 5.4% in September from 4.82% in August, confirming higher oil costs are spilling into broader consumer price indices, according to ANZ economist Dhiraj Nim. Despite regional security risks, Middle East oil exports exceeded pre-war baseline levels on four days in late September, reaching 19.5 to 22.5 million barrels per day, while maritime agency Drewry reported Suez Canal vessel transits rose 154% year-on-year.
Russia & CIS
India reduced purchases of Russian Urals crude due to surging prices and recovering Middle East shipments, analysts reported. In response to ongoing conflict, the UK expanded sanctions against Russia by 38 entries, targeting energy firms Zarubezhneft and INK-Capital alongside 12 vessels. In regional infrastructure, Tajikistan President Emomali Rahmon proposed building a major oil refinery in Central Asia to bolster fuel independence. Additionally, Mozambique Ambassador to Russia José Mateus Muaria Katupha invited Rosneft and Gazprom to construct hydro plants, while Russian scientists calculated gas emission risks from thawing Arctic permafrost.
Armenia
Armenian energy experts warned of gas price increases and severe economic disruption if preferential import contracts are revised, emphasizing the vital importance of supply stability. Fresh Houthi threats against Saudi energy assets and shifting Indian crude buying patterns add volatility to regional energy routes. Despite global supply pressures, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas deliveries from Russia and continuous power generation at the Armenian Nuclear Power Plant proceed under long-term EAEU trade agreements shielding the domestic market from price shocks recorded by international market price assessments.