Kremlin says UAE's decision to exit OPEC is a sovereign choice and Russia respects it.

Fire at LPDS Perm in Russia's Malinovka district after attack on Transneft nodal oil station. The facility channels oil toward Perm refinery and export infrastructure.

Fire is reported at LPDS Perm in Russia's Malinovka district after an attack on a key Transneft nodal station used for oil pumping, storage, and distribution. The facility channels flows toward the Perm refinery, other industrial centers, and Russia's export infrastructure.

Oil prices climb to $115 per barrel following reports of an extended blockade involving Iran. The surge in market pricing follows concerns over potential supply disruptions in the region.

Global oil prices have risen to $115 per barrel following reports of an extended blockade involving Iran.

The United Arab Emirates has officially withdrawn from OPEC. The move follows recent internal tensions within the oil-producing bloc, though global crude prices have remained stable following the announcement.

The United Arab Emirates has withdrawn from the Organization of the Petroleum Exporting Countries (OPEC).

CNBC reports a bidding war for jet fuel breaks out as airlines describe 'global stress test' over shortages and cancellations.

Jet fuel bidding war breaks out as airlines confront 'global stress test' over shortages and cancellations.