04/06/2026 – United States – Iran: a new agreement has been reached in Lebanon, but the deadlock in the Strait remains. Gas and oil prices are on the rise – Read More News

GAS & POWER: The icebreaker and LNG carrier Christophe de Margerie set sail last week from the Russian Arctic LNG 2 terminal bound for Asia via the Northern Sea Route, becoming the first vessel to make the journey this year, ahead of the usual schedule which typically sees transits begin in the last week of June. The Arctic route, which stretches from Murmansk to the Bering Strait near Alaska, represents a strategic alternative to traditional routes for Moscow, enabling transport times to Asian markets to be reduced by around a third. This week also saw the first export in the last six months from the Portovaya LNG terminal, another facility affected by various international sanctions.

OIL: US crude oil stocks surprised on the downside in the week ending 29 May, falling by over 7.9 million barrels – the sharpest decline since last February. On a positive note, petrol stocks broke a run of fifteen consecutive weeks of decline, showing a slight rebound.