The European Commission urges member states to prepare for a prolonged jet fuel supply crisis as regional tensions disrupt shipments. Airlines are cutting capacity as fuel prices in Europe more than double year-on-year.

Russian missile attack damages Naftogaz gas production facilities, forcing Ukraine to increase imports to cover temporary supply losses, according to CEO Oleksiy Chernyshov.

Naftogaz CEO Oleksiy Chernyshov reported that a Russian missile attack on Tuesday, May 5, caused significant damage to gas production facilities, forcing Ukraine to rely on imports to compensate for temporary output losses.

President Donald Trump announces Operation Freedom in the Strait of Hormuz to escort vessels stranded by the conflict with Iran. The move comes as the United Arab Emirates announces its withdrawal from OPEC amid shifting global energy production plans.

President Donald Trump announced the launch of Operation Freedom in the Strait of Hormuz starting Monday to escort vessels stranded due to the conflict with Iran. Meanwhile, the United Arab Emirates has decided to withdraw from OPEC as seven other nations prepare to increase oil production.

KazMunayGas redirects oil exports to the Caspian Pipeline Consortium and Russian ports following the suspension of transit through the Druzhba pipeline. The shift follows the halt of shipments via the Druzhba route.

KazMunayGas will redirect oil exports to the Caspian Pipeline Consortium system and Russian ports following the cessation of transit through the Druzhba pipeline, according to the company.