Germany announced the release of up to 15 million barrels of oil and petroleum products from strategic reserves to ease fuel deficits, as supertanker freight rates from the US Gulf to Asia hit a record $82 million. Meanwhile, Slovakia secured winter gas supplies through its Gazprom contract, and the leaders of Russia, Azerbaijan, and Iran held trilateral energy talks.
Global market
German Economy Minister Katherina Reiche announced the release of up to 15 million barrels of oil and petroleum products from strategic reserves to mitigate fuel shortages. On logistics, Asian refiners began rejecting US crude as supertanker freight rates from the US Gulf to Asia surged to a record $80–82 million per voyage, shifting demand to Middle Eastern barrels. Meanwhile, Energy Aspects founder Amrita Sen stated that physical crude prices are trading closer to $150 per barrel, arguing futures markets underestimate risks to Saudi infrastructure. Additionally, the Australian government finalized rules requiring LNG exporters to reserve up to 20% of gas for domestic supply starting July 1, 2027, while the Baltic Dry Index dropped to 2917.
Russia & CIS
Slovak Minister of Economy Denisa Saková confirmed that Slovakia is fully secured with gas for the 2026–2027 winter season under its active contract with Gazprom. On diplomatic channels, Russian Presidential Press Secretary Dmitry Peskov reported three-way talks between the leaders of Russia, Azerbaijan, and Iran on energy coordination. On exchange markets, Ai-92 petrol prices on the St. Petersburg Exchange dropped by 0.3%, whereas fuel theft at Estonian service stations jumped 50%. In corporate activity, energy major Shell decided to invest in expanding gas production at a field in Norway, while Egyptian airline AlMasria attributed rising ticket prices to escalating aviation fuel costs.
Armenia
Trilateral energy coordination talks between the leaders of Russia, Azerbaijan, and Iran establish a stable regional framework for resource deliveries to Armenia. Further regional supply risks persist following an explosion at a Greek refinery that critically injured two workers and a drone attack on a Lukoil refinery in Komi. Despite global market volatility, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas deliveries from Russia and continuous 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.