February 2026

Japan’s National Institute for Quantum Science and Technology (QST) has accelerated its timeline for a prototype fusion reactor.

Brent futures rose $1.67, or 1.5%, to $110.32 ​a barrel at 1030 GMT, while U.S. West Texas Intermediate (WTI) crude added 33 cents, or 0.3%, to $96.47.

Benchmark futures jumped as much as 35% on Thursday, pushing prices to more than double their pre-war levels, as the market braces for a drawn out halt at the critical LNG hub that provides about a fifth of the world’s supply.

With the culmination of the Ramadan festivities this week,the main agenda has been cutting through the noise in the global Oil markets.

With countries around the world facing energy, climate and security challenges, IAEA Director General Rafael Mariano Grossi said nuclear energy is now widely recognized as an essential part of the solution.

Coal is already the dominant fuel in Asia’s power mix, making up well over 40%-50% across the region, and it has long been more cost-competitive than gas

World first policy: The UK will be the first country in the world to offer a market framework for fusion electricity to de-risk and incentivise private investment and enable fusion to power homes and businesses.

In an update outlining its first year of operation, the agency highlighted its development of a strategy for the nuclear industry to 2050 and the selection of Russia's Rosatom as the leader of an international consortium to build the country's planned new plant, to be named Balkash and located in the Zhambyl district of the Almaty region.

"Finland will always need carbon-free, affordable and reliable energy, such as nuclear energy," Minister of the Environment and Climate Sari Multala said.

Brent were down $7.15, or 7.2%, at $91.81, WTI was down $6.26, or 6.6%, at $88.51 a barrel.