Washington moves to ease sanctions on Russian oil as Gulf war disruptions push energy markets from disruption into a full-blown crisis and raise fears of a global oil shock.

US eases sanctions on Russian oil to keep markets supplied

FSUOGM - Former Soviet Union Oil & Gas
By Ben Aris in Berlin 7 March 2026
US signals possible easing of sanctions on Russian oilThe US could remove sanctions on additional Russian oil supplies as Washington reassesses energy flows as Operation Epic Fury triggers the start of a global energy crisis.
Europe’s gas reserves have plunged far below seasonal norms after a severe winter freeze, leaving the EU facing a difficult refill season and likely missing its 90% storage target by November.

IntelliNews Lambda: Europe’s gas storage drawdown slows as heating season ends, but EU will struggle to refill tanks this summer

FSUOGM - Former Soviet Union Oil & Gas
By Ben Aris in Berlin 7 March 2026
Europe’s gas market is emerging from a difficult winter in its weakest position for years after a sharp acceleration in withdrawals from January, triggered by the “big freeze”, left storage levels well below their long-term norm.
Blockade of the Strait of Hormuz threatens to turn early market disruption into a broader oil crisis as up to 20mn barrels per day of Gulf exports risk being stranded and storage capacity nears its limit.

Hormuz crisis: oil markets move from disruption to chaos

AsianOil - Asia Oil & Gas
FSUOGM - Former Soviet Union Oil & Gas
By Newsbase 6 March 2026
The global oil market is sliding from disruption into what could become a full-scale crisis, as the blockade of the Strait of Hormuz leaves Gulf exporters unable to ship crude and running out of storage capacity.

Gulf crude benchmarks surge as Kuwaiti oil jumps 10% and Brent nears $85 amid regional conflict

MEOG - Middle East Oil & Gas
By bnm Gulf bureau 6 March 2026
Kuwaiti crude jumps 10% to $92.81 per barrel as the Gulf conflict disrupts shipping through the Strait of Hormuz and threatens production across the region's energy exporters.
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