Europe has less than 30 days of jet fuel supplies to meet demand. Europe imported 673,000 b/d in June, its highest since October 2025, mainly from the U.S., Nigeria, Canada, India and South Korea. The situation could get worse, according to the European Commission.
The United Arab Emirates informed OPEC that its oil production surged by 80% last month as Abu Dhabi found workarounds for the Iran war and was free to pump more barrels after leaving the producer group. Saudi Arabia also managed an output recovery in June, though not to the same scale as its neighbor.
Ukrainian attacks have affected more than half of Russia's refining capacity since the start of May. Ukrainian forces have carried out about 50 attacks on Russia's fuel-producing facilities in the past 100 days. The drop in production has prompted a ban on most diesel exports to the end of July and restrictions on gasoline and jet fuel shipments introduced earlier.
Brent crude prices rose 4.7% to $79.59 a barrel on renewed hostilities in the Middle East. European airline stocks were among the hardest hit, with Ryanair, Air France, International Consolidated Airlines, Wizz Air, Finnair and Lufthansa falling between 2% and 3%. Asian stock markets were down sharply, with South Korea's Kospi down 8%, Japan's Nikkei 225 and China's Shanghai Composite 2%. Chip companies were also hit. FTSE 100 index was broadly flat thanks to rises in the oil companies BP and Shell.
World shares were mixed on Monday after the U.S. carried out airstrikes and Iran retaliated. Germany's DAX added 0.2%, France's CAC 40 was up 0.1%, and Britain's FTSE 100 was up just 0. 1%. In Asian share trading, Tokyo's Nikkei 225 index lost 1.9%, while in Seoul, the Kospi declined 9%. South Korean memory chipmaker SK Hynix's shares slumped 15.4% in Seoul.
Damascus residents say state-supplied electricity supply has improved recently, but they complain about the cost of energy. Before the fall of the Assad regime, Syria received 52 percent of its electricity from natural gas and close to 45 percent from oil. In June 2025, the World Bank approved a $146m grant to improve Syria’s electricity supply and develop the sector.
Europe has less than 30 days of jet fuel supplies to meet demand. Europe imported 673,000 b/d in June, its highest since October 2025, mainly from the U.S., Nigeria, Canada, India and South Korea. The situation could get worse, according to the European Commission.
The United Arab Emirates informed OPEC that its oil production surged by 80% last month as Abu Dhabi found workarounds for the Iran war and was free to pump more barrels after leaving the producer group. Saudi Arabia also managed an output recovery in June, though not to the same scale as its neighbor.
Ukrainian attacks have affected more than half of Russia's refining capacity since the start of May. Ukrainian forces have carried out about 50 attacks on Russia's fuel-producing facilities in the past 100 days. The drop in production has prompted a ban on most diesel exports to the end of July and restrictions on gasoline and jet fuel shipments introduced earlier.
Brent crude prices rose 4.7% to $79.59 a barrel on renewed hostilities in the Middle East. European airline stocks were among the hardest hit, with Ryanair, Air France, International Consolidated Airlines, Wizz Air, Finnair and Lufthansa falling between 2% and 3%. Asian stock markets were down sharply, with South Korea's Kospi down 8%, Japan's Nikkei 225 and China's Shanghai Composite 2%. Chip companies were also hit. FTSE 100 index was broadly flat thanks to rises in the oil companies BP and Shell.
World shares were mixed on Monday after the U.S. carried out airstrikes and Iran retaliated. Germany's DAX added 0.2%, France's CAC 40 was up 0.1%, and Britain's FTSE 100 was up just 0. 1%. In Asian share trading, Tokyo's Nikkei 225 index lost 1.9%, while in Seoul, the Kospi declined 9%. South Korean memory chipmaker SK Hynix's shares slumped 15.4% in Seoul.
Damascus residents say state-supplied electricity supply has improved recently, but they complain about the cost of energy. Before the fall of the Assad regime, Syria received 52 percent of its electricity from natural gas and close to 45 percent from oil. In June 2025, the World Bank approved a $146m grant to improve Syria’s electricity supply and develop the sector.