US President Donald Trump defended Washington’s agreement on Russian diesel exports as vital for global supply, while European gas prices hit a record €87.20 per megawatt-hour. Meanwhile, Japanese refiners shifted to offshore ship-to-ship crude transfers in the Gulf of Oman, and Armenia recorded 7.4% industrial growth within the EAEU.
Global market
European natural gas benchmark TTF prices rose for a sixth consecutive session to €87.20 ($97.57) per megawatt-hour, driven by acute LNG supply shortages. In response to Middle East transit disruptions, Japanese refiners began purchasing Saudi and Omani crude via ship-to-ship transfers off Oman, avoiding the Strait of Hormuz entirely. Seeking supply security, China’s state-owned PetroChina resumed negotiations for long-term US LNG contracts. In Africa, Nigeria’s Dangote refinery posted a $4.73 billion net profit for the first nine months of 2026 ahead of a planned $1.6 billion IPO, while global coal futures hovered near a three-year high of $150 per ton as power producers substituted expensive gas with coal.
Russia & CIS
US President Donald Trump declared that Washington’s diesel arrangement with Moscow serves global market interest, denying claims that Russia violated the energy ceasefire. Supporting this position, Russian Deputy Foreign Minister Sergey Ryabkov stated that the diesel export deal involves no political concessions regarding Ukraine. In Germany, AfD party leader Alice Weidel urged Berlin to negotiate a similar diesel agreement with Moscow, as Germany prepares a gas reserve levy of up to €7.20 per year on citizens. Regarding regional transit, Kazakhstan Energy Ministry spokesperson Asel Serikpaeva confirmed that a gas pipeline rupture in Russia’s Penza Region did not affect gas transit to Uzbekistan.
Armenia
White House statements supporting Russian fuel exports and a 7.4% industrial growth in Armenia define the domestic economic backdrop. According to statistical reports, Armenian industrial output expanded by 7.4% within the EAEU, driven by mining and metallurgy. In the nuclear sector, Armenian energy experts warned that selecting a non-Russian model for a new nuclear station could lead Moscow to cease servicing the operating Armenian Nuclear Power Plant. Despite broader market turbulence, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Gas shipments from Russia continue under long-term agreements within the EAEU, protecting consumers from spikes recorded by international market price assessments.