Brent crude surpassed $111 per barrel for the first time in five months, while Asian spot LNG prices surged above $30 per MMBtu following a Red Sea tanker attack. In response to rising fuel costs, Washington authorized an emergency agricultural subsidy, while Kazakhstan boosted oil exports to China to 14.8 million tons.
Global market
Brent crude futures climbed above $111 per barrel to $111.05 per barrel on ICE, marking a five-month high driven by persistent Middle East supply risks. Concurrently, Asian spot LNG prices topped $30 per MMBtu for the first time since December 2022 following a Red Sea attack on an LNG carrier reported by UK Maritime Trade Operations (UKMTO). To insulate domestic food production from escalating fuel expenses, US Secretary of Agriculture Brooke Rollins announced $8 billion in emergency diesel relief for American farmers. In marine bunkering, Golden Island delivered a record 5,000 metric tons of bio-ethanol to a Maersk container ship in Singapore, while WinGD recorded its first in-service voyage on ethanol fuel.
Russia & CIS
Kazakhstan transported 14.8 million tons of crude oil to China during the first nine months of 2026, expanding transit capacity. Meanwhile, Russian Foreign Ministry Special Envoy Rodion Miroshnik reported Ukrainian drone strikes against two oil refineries in the Saratov and Ryazan regions, as well as an oil station in Tambov. In regional power infrastructure, eight hydroelectric power plants are slated for construction in Karabakh, while Gazprom Neft and Tatneft agreed to expand industrial robotics across energy operations. Additionally, Krasnoyarsk Krai regional authorities restricted fuel sales to minors under administrative penalty threat.
Armenia
Global crude oil prices exceeding $111 per barrel and Asian LNG climbing past $30 per MMBtu intensify cost pressures across regional energy markets. Despite supply volatility stemming from Red Sea attacks, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. National energy stability continues to rely on full Russian natural gas deliveries and maximum output at the Armenian Nuclear Power Plant under long-term EAEU framework agreements, insulating domestic consumers from international market price assessments.