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.

The program is a drive to break one of sub-Saharan Africa’s biggest impediments to growth: Almost half of its population, or 570 million people, have no access to electricity.

Under an MoU on cooperation in the field of energy signed in October 2024 between KHNP and the Philippine Department of Energy, KHNP agreed to conduct a feasibility study to evaluate the possible start up of the mothballed Bataan plant.

The Innovative Small Modular Reactor (i-SMR) - being developed by a consortium led by Korea Hydro & Nuclear Power (KHNP) and the Korea Atomic Energy Research Institute (KAERI) - is an integrated pressurised water reactor type nuclear power plant with an electrical output of 170 MW for both domestic use and export.

Brent were at $79.44 a barrel, up $1.70, WTI jumped $1.17, or 1.6%, to $72.40.

Страны продолжат внимательно следить за ситуацией. В рамках постоянных усилий по поддержке стабильности рынка они подтвердили важность осторожного подхода и сохранения гибкости для продолжения приостановки или отмены дополнительных добровольных корректировок добычи, включая ранее введённые добровольные корректировки в размере 2,2 млн баррелей в сутки, объявленные в ноябре 2023 года.

The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation.

Benchmark futures jumped as much as 25% — the biggest increase since August 2023 — after tanker traffic through the Strait of Hormuz largely halted over the weekend.

India became the single most important buyer of Moscow’s seaborne crude after the invasion of Ukraine, but the country has been cutting back in response to US pressure — particularly after a US trade deal struck last month that rolled back punitive tariffs.

India is the world's fourth-largest LNG consumer. According to S&P Global Energy data, in 2025, India imported more than 25 million metric tons of LNG per year.

U.S. Secretary of Energy Chris Wright today announced the Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF) has closed a historic $26.5 billion loan package to deliver over $7 billion in electricity cost savings to millions of customers in Georgia and Alabama.

Brent rose 36 cents, or 0.51%, to $71.11, WTI was at $65.59, up 38 cents, or 0.58%.