Russia’s seaborne crude oil exports reached a record high since early 2026 amid eased US sanctions and rising competition from Iran, impacting global prices and European markets.
Russia limits gasoline sales in 53 regions due to drone attacks on oil refineries, impacting oil production and sparking market reactions in London and across Europe.
The US has lifted its blockade of the Strait of Hormuz, enabling record oil flows that could stabilize UK and EU energy markets and influence sterling valuations.
US-Iran talks show promise of a deal, potentially easing Middle East tensions and impacting sterling and London markets positively.
The US has extended its suspension of sanctions on Russian oil exports until May 16, affecting UK and EU markets amid rising Russian oil revenues and geopolitical tensions.