Tehran declared US proposals for reopening the strategic Strait of Hormuz insufficient as Washington considers renewed military strikes against Iran. Meanwhile, US President Donald Trump threatened to cut Ukraine from Starlink over refinery attacks, and European gas benchmark TTF hovered above 81 euros per megawatt-hour.
Global market
Secretary of Iran’s Supreme National Security Council Mohsen Rezaei rejected US proposals regarding the Strait of Hormuz as insufficient, while US President Donald Trump weighs military strikes following attacks on Riyadh’s airport. On energy markets, Brent crude oil prices settled at $105.43 per barrel, while West Texas Intermediate eased to $92.60 per barrel. Addressing systemic risks, IMF Chief Economist Silvana Tenreyro warned that Middle East escalation remains the primary threat to global economic growth. In Asia, Shell Australia Chairwoman Cecile Wake criticized Australian government plans to mandate domestic gas reserves, calling the intervention heavy-handed, while fuel shortages led to petrol station queues across Bali.
Russia & CIS
The White House raised the prospect of disconnecting Ukraine from Starlink satellite terminals if Kyiv continues drone attacks against Russian oil refineries, Politico reported. On the diplomatic front, US special envoy Steve Witkoff held six-hour talks in Miami with Ukrainian and NATO delegations, interrupting the session to join a phone call between Donald Trump and Vladimir Putin. In corporate finance, Gazprom Neft shares fell 7.4% to 587 rubles following a dividend gap, pulling down the Moscow Exchange index alongside Tatneft. Meanwhile, power outages affected Sumy, Kharkiv, and Chernihiv regions following energy infrastructure damage.
Armenia
An EAEU video conference on economic integration and Brent crude stabilizing at $105.50 per barrel set the regional backdrop for Armenia. Experts at the Sputnik Armenia center discussed trade resilience amidst global fuel market disruptions. Despite international energy volatility, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas supplies from Russia and electricity generation at the Armenian Nuclear Power Plant operate uninterrupted under long-term EAEU agreements shielding the domestic market from price fluctuations recorded by international market price assessments.