News about oil: events, facts and developments on tafs uz.
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A drone attack on Saudi Aramco's Shaybah oil field pushed up oil prices: Brent rose 2.4% to $111.40, WTI rose 2.22% to $99.30. Two people were killed. The US ordered the evacuation of some staff from diplomatic missions in Saudi Arabia, while Ukrainian attacks on Russian oil infrastructure heightened supply concerns.
Javlon TursunovEmber's analysis showed that from March to August 2026, electric vehicles displaced about 200 million barrels of oil worth $20 billion. The largest savings went to China ($14 billion), EU countries saved $3.1 billion. Denmark leads in the share of displaced oil relative to national consumption. The rise in oil prices is linked to Iran's blockade of the Strait of Hormuz.
Javlon TursunovAsian and European stock markets fell significantly on October 22, 2026 after mixed reports from Meta and Tesla. AI-related stocks continued to decline from their June record highs amid concerns over investment volumes and the cost of debt financing. Additional pressure came from oil prices rising by more than three percent after attacks by Yemen's Houthis on facilities in Saudi Arabia.
Sevara AzamovaOn October 20, Brent fell to $106.24 per barrel, dropping more than 3%, but by 18:45 Moscow time it recovered to about $108.2, remaining more than 1% below the previous session's close.
Javlon TursunovIn the first nine months of 2026, Brazil supplied 44.3 million tonnes of oil to China, overtaking Saudi Arabia (43.12 million tonnes). Russia remains the leader with 87.6 million tonnes, up 18.3% year on year. The data from the General Administration of Customs of China was cited by Interfax.
Javlon TursunovAsian bourses on October 21, 2026 showed gains led by Seoul and Tokyo: chipmaker stocks SK hynix, Samsung, Kioxia, Advantest and SoftBank rose 2–7% after several weeks of declines. Sentiment was supported by SpaceX's first quarterly report as a public company with a $4.4 billion profit, as well as preliminary results from Super Micro Computer. Investors await Tesla and Meta reports. Oil rose more than 1% after a report of an attack on a tanker off the coast of Qatar.
Sevara AzamovaUS indices mostly rose on October 20, 2026: the Dow gained 1% on strong 3M earnings as investors pulled money out of technology and AI stocks. Oil fell after comments from a Qatari Foreign Ministry spokesman about continuing US-Iran talks. Markets declined in Asia and Europe: the Kospi dropped nearly 4%, and French government bond yields hit their widest spread against German bonds since 2011.
Sevara AzamovaTuesday on US markets was mixed: the Dow rose 1.02%, the S&P 500 gained 0.28%, and the Nasdaq slipped slightly. Support came from 3M and Northrop Grumman earnings and falling oil prices, while concerns over AI spending weighed on technology stocks. European indices fell amid protests in France.
Sevara AzamovaAccording to a statement by the Navy of Iran's Islamic Revolutionary Guard Corps (IRGC), a supertanker carrying more than 2 million barrels of crude oil exploded and caught fire after hitting a naval mine south of the Strait of Hormuz. According to the IRGC, the vessel had switched off its radar and navigation systems, ignored warnings, and was traveling along an 'unauthorized southern route.' The ship's name, flag, crew details, and information about casualties have not been disclosed.
Sevara AzamovaBrent fell about 3% to $106.18 per barrel, retreating from an intraday high near $112. The decline is linked to reports of a compromise proposal by Qatar and Pakistan on Iran, which, according to sources, received preliminary approval from the US and Tehran. European gas also fell 3% to €85.30/MWh, but storage remains below the seasonal norm.
Javlon TursunovUS Secretary of State Marco Rubio arrived in India on a three-day visit, saying New Delhi has made 'substantial progress' in diversifying oil supplies and that a trade agreement is 'very close' to being signed. He held talks with Foreign Minister S. Jaishankar and plans to visit Jamnagar.
Javlon TursunovUS Secretary of State Marco Rubio, during a visit to India, said that Indian refineries, including Reliance Industries, are capable of processing Venezuelan heavy oil and could provide short-term relief to shortages on the global market. He also said that the US and India are close to finalizing a trade agreement.
Javlon TursunovTechnology stocks led the decline amid growing doubts about the sustainability of the investment boom around AI. Seoul and Tokyo were hit hardest: Kospi lost almost 4%, Nikkei more than 1%. Oil is rising on supply disruption risks, including Ukrainian drone attacks on Russian refineries. Market attention is focused on Meta and Tesla earnings.
Javlon TursunovBrent crude is holding around $110, with WTI above $104, amid the risk of new Iranian attacks in the Strait of Hormuz and record tanker freight rates. Asian LNG prices hit their highest level since December 2022, and European gas is near multi-year peaks. European markets opened lower, while in Asia the tech sector led a sell-off on concerns about the return on AI investments.
Javlon TursunovMichael O'Leary, in an interview with Euronews, criticised the European Commission chief for inaction on competitiveness, demanded a levy on flights by non-European carriers, and announced a reduction of flights to Belgium due to a tax increase. He also warned of rising ticket prices in 2027 due to expensive oil.
Sevara AzamovaTechnology stocks led a sell-off on Asian exchanges on Tuesday: investors ignored Wall Street's rebound amid growing doubts about the sustainability of the AI investment boom ahead of Meta and Tesla earnings. SK hynix, Samsung, Kioxia and SoftBank suffered heavy losses, with the Kospi down 3.7%. Oil is rising on risks around the Strait of Hormuz, while the euro is under pressure from protests in France and Italy.
Dilnoza RahimovaAfter declining at the start of Monday's trading, energy prices reversed upward. Brent futures topped $110 per barrel, reaching their highest level since mid-May, while WTI rose 2% to $103.5. European gas and heating oil also became more expensive.
Dilnoza RahimovaMonday brought a recovery in global markets: US Treasury yields fell, gold rose, and US indices opened higher. Support came from optimism around a new Middle East peace plan and China's Q3 GDP data (+4.5%). European indices, however, opened lower amid protests in France, while the Nikkei 225 fell after statements by Prime Minister Takaichi.
Nilufar Karimova
