International Energy Agency Director Fatih Birol stated there is a "huge surplus" of oil in the markets, but warned of a potential "gas bidding war" due to the conflict in the Middle East. Oil prices have risen by 50% since the beginning of the year, and the Strait of Hormuz is effectively closed to tankers.
In Kryvyi Rih, a contractor was selected for the construction of cogeneration units at the thermal power plant for UAH 1. 776 billion. This is UAH 206.4 million more expensive than previous offers.
NABU Director Semen Kryvonos may be clearing the energy market for individuals connected to him. His wife previously worked in the business structures of a person accused of illegal earnings in the energy sector.
Due to the war in the Middle East and the escalation around Iran, fuel prices in Europe have risen. The highest prices are recorded in the Netherlands, where gasoline costs 2.19 euros per liter.
Prime Minister Yulia Svyrydenko stated that Ukrnafta will sell fuel with a minimal markup. The AMCU and the State Service of Ukraine on Food Safety and Consumer Protection have been instructed to strengthen price control.
EU ambassadors stated that member states would not accept the 'membership first, then integration' model for Ukraine. This resistance blocks the model that the European Commission had been promoting for Ukraine's accession to the EU by 2027.
The end of winter and the beginning of spring is traditionally the period when grain reserves from the previous season decrease, and the new harvest is still far away, which cannot but affect the price of cereals. But experts assure: Ukraine is not threatened by a buckwheat shortage, and prices will not "jump" if consumers do not fall for informational provocations and do not create a stir.
The Hungarian Prime Minister claims that Ukraine has imposed an oil embargo against Hungary, and he will use all means to overcome it. Slovak Prime Minister Robert Fico supported Orban and threatened to block an EU loan for Ukraine.
Due to hostilities and shelling of energy infrastructure, some communities in Donetsk, Kherson, Chernihiv, and Kharkiv regions are temporarily without electricity. In some regions, hourly outage schedules are in effect for all categories of consumers.
The cost of oil on international markets recorded its sharpest rise since 2022 due to the active phase of the war in the Persian Gulf. The price of West Texas Intermediate (WTI) jumped 18% in a week.
The US Treasury Department has issued a license allowing Indian companies to purchase Russian oil at sea. This is an emergency measure to compensate for fuel shortages due to the closure of the Strait of Hormuz.
Global gold prices recorded weekly losses of 3. 7% for the first time in a month due to the rising dollar and revised Fed forecasts. Investors are using gold assets for liquidity amid the stock market collapse.
Trump's advisers have developed a plan to counter rising energy prices due to the war with Iran. It includes state insurance guarantees for tankers and naval escort.
German Uniper is negotiating with Canada to increase LNG purchases to diversify energy supplies. This will help Germany reduce its dependence on energy resources from the United States.
Ukrainian President Volodymyr Zelenskyy discussed with Giorgia Meloni the situation around Iran, challenges in the oil and fuel market. They also talked about a 90 billion euro loan for Ukraine and the situation with the Paralympic Games.
The National Bank has set the official dollar exchange rate at 43. 81 hryvnias, which is a new historical high. Financier Viktor Halchynskyi explained the rise by global instability and advised Ukrainians to remain calm.
An Iranian missile hit the BAPCO Energies oil refinery in Bahrain. There were no casualties, the plant continues to operate, and the fire has been contained.
Oil prices surged to their highest level since mid-2024, causing the Dow Jones, S&P 500, and Nasdaq indices to fall. The US dollar strengthened, and Treasury yields rose.
On March 6, hourly power outage schedules and capacity restrictions will be in effect in some regions of Ukraine. The reason is the consequences of Russian attacks on energy facilities.
The 330 kV Ferosplavna-1 power transmission line has been connected to the Zaporizhzhia NPP after repair work. This strengthens the nuclear safety of the plant, which now has two available power transmission lines.
President Zelenskyy held a meeting with the Cabinet of Ministers, the Verkhovna Rada, and the Office regarding the results of the government's work and tasks for spring-summer. They discussed energy restoration, Ukraine's defense, the state of roads, relations with the EU, and pension indexation.
The ongoing crisis in Iran, which has halted energy supplies and LNG production in Qatar, threatens rising electricity prices in Europe. This will weaken the competitiveness of industry, says the CEO of Statkraft.
India and China are increasing their interest in Russian oil due to concerns about supplies from the Middle East. Prices for Russian Urals oil remain stable despite growing demand.
Ukrainian President Volodymyr Zelenskyy and Naftogaz CEO Serhiy Koretskyy stated that restoring the Druzhba oil pipeline to its previous form makes no sense. The reason is the damage to the main pumping station in Brody and the unwillingness to transport Russian oil.
For over three weeks, Ukrainian F-16 fighter jets did not have enough missiles to shoot down Russian drones and missiles due to depleted supplies from partners. This occurred precisely as Moscow was preparing for a large-scale winter air campaign.
The International Atomic Energy Agency (IAEA) has adopted a resolution recognizing the nuclear risks from Russian strikes on Ukraine's energy system. Ukrainian Foreign Minister Andriy Sybiha stated that these actions by Russia constitute nuclear terrorism.
Iran has significantly expanded the scale of military strikes in the region, using missiles and drones against a number of states. The attacks affected 11 countries, including Israel, UAE, Qatar, Bahrain, Kuwait, Saudi Arabia, Jordan, Iraq, Syria, Azerbaijan, and Turkey.
The 2026 sowing campaign in Ukraine will become more expensive due to rising fuel prices, fertilizer shortages, personnel deficits, and energy supply problems. This will affect the cost of the future harvest and the financial condition of farmers.
The European Union will appeal to international partners for additional funding for Ukraine to cover a €30 billion deficit. Hungary is blocking a €90 billion EU aid package due to a dispute over oil supplies.
Due to shelling and hostilities, parts of Zaporizhzhia, Dnipropetrovsk, and Kharkiv regions are temporarily without electricity. Energy workers are working on restoration, and hourly blackouts are in effect in most regions.
