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energy and resource

Brent falls 1.8% as Trump waives Russia sanctions

Illustration accompanying article: Brent falls 1.8% as Trump waives Russia sanctions
  • December Brent crude futures fell 1.8% to $107.86 a barrel Monday, and December WTI dropped 1.7% to $97.37 a barrel, according to The Wall Street Journal.
  • President Trump signed an executive order Friday waiving sanctions and tariffs under a new Russia-targeting law, easing some energy-trade curbs; the waiver does not affect earlier sanctions already in place.
  • Analysts at ANZ Research said the Monday decline could reflect a technical correction following Friday's gains, and warned that further downside could be limited by geopolitical tensions and the risk of additional supply disruptions.
  • The Wall Street Journal reported Iran has been providing Yemen's Houthi militia with intelligence and targeting assistance for attacks on Saudi Arabia, and that the Houthi-controlled coastline along the Bab al-Mandeb Strait is a key route for Saudi oil exports.
  • Ukrainian drones struck a St. Petersburg oil terminal Sunday, and the U.K. Maritime Trade Operations agency reported an attack on a tugboat near the United Arab Emirates the same day.
  • Morgan Stanley raised its fourth-quarter Dated Brent forecast to $105 a barrel, citing record tanker freight costs, low inventories and continued geopolitical risks.
 2026-10-19 · 5 MIN READ

Ukrainian drones hit St. Petersburg oil terminal as energy ceasefire collapses

Illustration accompanying article: Ukrainian drones hit St. Petersburg oil terminal as energy ceasefire collapses
  • Ukrainian drones struck a major St. Petersburg oil terminal and other targets early Sunday in the biggest attack on Russian President Vladimir Putin's hometown since the war began.
  • St. Petersburg Gov. Alexander Beglov said one person was killed, five were injured, and 12 apartment buildings and two homes were damaged; the city's airport temporarily suspended operations.
  • Ukrainian President Volodymyr Zelensky said Russia struck Ukrainian energy infrastructure 76 times in the past week despite Trump's energy ceasefire, freeing Kyiv to resume targeting Russian energy sites.
  • Russia's Defense Ministry said it intercepted more than 1,000 Ukrainian drones across the country over the weekend, while regional Gov. Alexander Drozdenko said air defenses downed 145 drones over the St. Petersburg region.
 2026-10-18 · 4 MIN READ
Illustration accompanying article: UK steelmakers' electricity cost gap with France hits three-year high