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.

Russia is now aiming to capitalize on supply concerns as a result of the conflict in the Middle East, where energy infrastructure and supply routes have been attacked.

Dutch front-month futures, Europe’s gas benchmark, traded 15% lower at €47.99 a megawatt-hour by 8:41 a.m. in Amsterdam.

About 15% of Canada's electricity comes from nuclear power, with 17 reactors, mostly in Ontario, providing 12.7 GWe of power capacity. It also has plans to build both new large-scale nuclear capacity and small modular reactors. Japan has 33 operable reactors with a capacity of 31.7 GWe.

Brent was up $2.25, or 2.8%, at $83.65, WTI rose $2.56, or 3.4%, to $77.22.

India was the top buyer ​of Russian seaborne crude after Moscow's 2022 Ukraine invasion, but in January ⁠its refiners started to reduce purchases, helping New Delhi avoid 25% tariffs imposed by Washington ​and clinch an interim trade deal.

European gas prices spiked to a three-year high this week amid the widening conflict in the Middle East, though they pared some losses today after the US said it plans to protect navigation in the Strait of Hormuz.

A new goal pledges to cut carbon emissions per unit of gross domestic product by 17% by the end of the decade, and compares to a previous objective to deliver an 18% reduction in the five years through 2025 — which annual reports said was narrowly missed.