European gas prices could rise by 130% if supplies through the Strait of Hormuz are halted for a month. This is due to the threat of the Iranian crisis to global supplies, which has already led to a 25% price increase.
A fire broke out at the Saudi Aramco oil refinery in Saudi Arabia after a suspected drone strike and has been brought under control. An oil refinery in Kuwait was hit by debris, injuring two workers.
Residents of the Persian Gulf countries awoke to explosions after night attacks, in which Hezbollah intervened in the conflict. Explosions were recorded in Dubai, Abu Dhabi, Doha, Bahrain, Lebanon, Israel, Kuwait, Iran, and Cyprus.
Brent crude oil price jumped 10% to $80 a barrel after US and Israeli strikes on Iran. Analysts predict a rise to $100 a barrel if there is a prolonged disruption to the Strait of Hormuz.
Russians have established a scheme for stealing electricity from temporarily occupied territories to cover their own deficit. This leads to regular power outages in the temporarily occupied territories, while stable electricity supply for military needs is ensured in southern Russia.
Ukraine has offered Slovak Prime Minister Robert Fico specific dates for a visit – March 6 or 9. This was done to discuss all issues, as previously agreed.
In occupied Sevastopol, there was a power outage due to an emergency shutdown in the Crimean power system networks. Consumers in several districts, including the city center, were left without power.
Ukrainian President Volodymyr Zelenskyy announced that Russia is preparing new attacks on Ukrainian infrastructure. He emphasized the need to respond to threats and shoot down Russian targets.
President Zelenskyy stated that Ukraine has gone through the most difficult winter in years of war, repelling massive Russian attacks. He thanked energy workers, military personnel, utility workers, and entrepreneurs for their resilience.
On March 2, in some regions of Ukraine, hourly power outage schedules and power limitations for industrial consumers will be in effect from 8:00 AM until the end of the day. This is due to the consequences of Russian attacks on the energy system.
Iran's Islamic Revolutionary Guard Corps announced missile strikes on three American and British oil tankers in the Persian Gulf and the Strait of Hormuz. The US and Great Britain have not yet confirmed these incidents.
US President Donald Trump has stated his readiness for negotiations with the new Iranian leadership after the assassination of Ayatollah Ali Khamenei. He noted that some Iranians who participated in previous negotiations are no longer alive.
The Belgian Federal Prosecutor's Office is investigating the detention of the tanker Ethera, suspected of sailing under a false flag and using forged documents. The vessel was arrested in the port of Zeebrugge due to possible circumvention of EU sanctions against Russia's "shadow fleet."
The Ukrainian leader urged Europe to change legislation so that such vessels are not only stopped but also seized, with Russian oil redirected to security needs.
The Palau-flagged tanker Skylight, which is under US sanctions, was attacked off Oman's Musandam Peninsula. Four crew members were injured, and 20 people were evacuated.
Ukraine has endured one of the most difficult winters in history due to constant shelling of energy infrastructure by Russians. This led to prolonged power and heat outages, but did not break Ukrainians.
Over three months, the enemy used more than 14,670 guided aerial bombs, 738 missiles, and almost 19,000 attack drones.
Due to the security situation on March 1, Ukrzaliznytsia changed train traffic in Kherson, Sumy, Chernihiv, Kharkiv, Donetsk, and Zaporizhzhia regions. Passengers are asked to follow the instructions of railway workers and enable push notifications.
The conflict in the Middle East threatens the stability of global energy markets, as the Strait of Hormuz, through which 20% of the world's LNG exports pass, is blocked. This leads to a halt in tanker traffic and a critical fuel shortage.
OPEC+ is considering an emergency expansion of oil production to 411,000 or 548,000 barrels per day to stabilize the market. Saudi Arabia and the UAE are already increasing export capacities due to possible supply disruptions.
The IAEA denied any "radiological impact" after the attack on Iranian facilities. The organization did not record any increase in radiation levels in Iran and neighboring countries.
In February, 83 cases of carbon monoxide poisoning were recorded in Ukraine, affecting 150 people, including 55 children. 23 people died, according to the State Emergency Service.
Israel has ordered a temporary halt to operations at some gas fields due to a joint attack with the US on Iran. This is a precautionary security measure, Energean Plc confirmed the suspension of production.
On March 1, scheduled power outages will be in effect in most regions of Ukraine. This is due to the consequences of Russian attacks on energy facilities.
Iran's Islamic Revolutionary Guard Corps told ships that passage through the Strait of Hormuz is not permitted. The Strait of Hormuz is the world's most important oil export route.
Prime Minister Yulia Svyrydenko and NBU Governor Andriy Pyshnyi discussed attracting banks to finance energy recovery. Banks financed UAH 33 billion, providing 1.3 GW of capacity.
Russian troops struck a gas production facility in Kharkiv region overnight, causing significant damage and depressurization of equipment. Company employees and emergency crews promptly localized the situation.
Several major oil companies have suspended shipments through the Strait of Hormuz. This could push Brent crude prices from $73 to $80 a barrel.
President Zelenskyy reacted to the strikes on Iran, noting that the Iranian regime chose to be an accomplice of Russia. He added that Ukraine had expressed its position on the situation in the Middle East.
President Zelenskyy stated that Norway has provided Ukraine with over ten NASAMS systems and missiles for them. The countries also worked on joint production and IRIS-T systems.
