Petroleum Industry of Serbia requested a US Treasury operating license extension as Houthi strikes on Saudi Arabian energy assets pushed Brent crude to a near six-month high. Meanwhile, regional Russian authorities lifted fuel rationing while Armenia maintained stable domestic energy prices under Eurasian integration agreements.
Global market
Serbian oil company Petroleum Industry of Serbia requested an operating license extension from the US Treasury before its current waiver expires on October 30, seeking uninterrupted operations under sanctions. In alternative energy developments, Seattle startup Endurance Energy achieved a world-first net-positive output from an underwater geothermal plant near Pacific Ring of Fire volcanoes, while the US White House sought to revoke approval for the $6.2 billion Revolution Wind offshore project. On commodity exchanges, Houthi missile and drone attacks on Saudi Arabian airports and energy infrastructure drove Brent crude to a six-month high.
Russia & CIS
Authorities in Mordovia announced the full removal of fuel sales restrictions starting October 25, ending per-person liter limits and odd-even purchase schedules. In Omsk Oblast, Governor Vitaly Khotsenko urged residents against panic-buying at service stations following the cancellation of a drone alert, while power was fully restored in Krasnodar Krai’s Temryuk district after a substation fire. In corporate finance, RussNeft reported a 4.4-fold increase in nine-month net profit under Russian accounting standards, as retail fuel supply normalized across regional markets.
Armenia
Escalating Middle East conflict and Houthi strikes on Saudi energy facilities pushed global Brent crude prices to a six-month peak, intensifying cost pressures across South Caucasus transit routes. Despite international market volatility, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Direct natural gas imports from Russia and power generation at the Armenian Nuclear Power Plant continue at full capacity under long-term EAEU contracts, shielding the domestic energy sector from external supply shocks recorded in international market price assessments.