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Brent nears $117 a barrel as Houthi strikes and Iranian threats lift oil prices
Brent crude came close to $117 a barrel on Friday, 23 October, its highest level since April, as Houthi strikes on Saudi Arabia and Iranian threats against Gulf energy and digital infrastructure fueled supply fears.
UK approves Jackdaw gas field as decision on Rosebank oilfield takes more time
Gas from the Jackdaw field, about 240 km east of Aberdeen, could reach UK homes by the end of October. The Rosebank oilfield, west of Shetland, still awaits a separate decision that reports suggest could go against it.
Macron secures extended Saudi diesel supply for France during surprise Riyadh visit
Saudi Arabia has agreed to keep supplying extra diesel to France 'for as many months as necessary', the Élysée said after an unannounced stop in Riyadh by Emmanuel Macron on Wednesday, 21 October.
German states press Berlin to cut electricity tax for all households
On 22 October 2026, state premiers meeting in Berlin asked the federal government to cut the electricity tax for everyone as quickly as possible, while Thuringia added a demand to suspend CO2 pricing on fuel and heating.
EU court upholds Iberian gas cap as adviser backs 2022 windfall levy
The Court of Justice of the EU rejected a challenge by five Spanish companies to the Iberian gas cap, while Advocate General Athanasios Rantos found the EU's 2022 windfall levy lawful.
Gulf oil exports top pre-war level as Hormuz traffic still lags and freight costs climb
Oil exports from Gulf producers other than Iran rose above their pre-war level in the week to 18 October, using pipelines and ship-to-ship transfers, while the Strait of Hormuz itself carries only about 82% of its earlier volume.
Trump exempts some Canadian goods from 50% tariffs in a boost for Susan Collins
Plywood, paper products, machinery and seaweed come off the 50% tariff list from 30 October, four days before the 3 November midterms, as Maine Senator Susan Collins fights for reelection.
Italian truck blockades leave southern shelves bare as damage tops 400 million euros
Blockades that paralysed southern Italy were lifted by 23 October, but supermarkets and fuel stations are still short of stock. Federdistribuzione expects five to seven days before supplies are fully restored.
Greek farmers get diesel tax relief at the pump from 1 November via myDiesel
From 1 November 2026, eligible Greek farmers will buy agricultural diesel without paying the Special Consumption Tax up front, with the exemption applied at the fuel pump through a digital coupon in the myDiesel app.
Italian fishing fleets halt in ports from Ancona to Termoli over diesel prices
Boats in several Italian regions stayed tied up on 22 October as crews from Termoli to Ancona protested diesel prices and asked the government for faster aid.
Switzerland taps diesel reserves after French rain delays pipeline deliveries
Heavy rain in southern France has delayed pipeline deliveries, prompting Bern to open compulsory stocks for up to 45,000 cubic metres of diesel. The office says supply is secured, but the situation for all petroleum products remains tense.
Poland caps Pb95 petrol at 6.89 zł per litre for Monday, 19 October
Poland's Minister of Energy has set Monday's maximum fuel prices at 6.89 zł per litre for 95-octane petrol, 7.68 zł for 98-octane and 8.00 zł for diesel, all below Friday's caps.
Power and gas grid fees rise in 2027, with Saarland hit hardest and Rhineland-Palatinate's power fees falling
Verivox calculations show grid fees for electricity and gas rising nationwide at the turn of the year to 2027. Electricity fees fall slightly in Rhineland-Palatinate, while Saarland faces a 7.8% increase.
EU fuel prices up 31.4% year on year in September; Portugal ranks 15th
Eurostat puts the year-on-year rise in EU fuel prices at 31.4% for September, and Portugal's pump prices change again from 26 October under a new fiscal decree.
Trump says Taiwan to buy 30% of Alaska LNG pipeline gas for 20 years
Trump told a Wasilla, Alaska, rally that Taiwan will take 30% of the gas from the planned pipeline for two decades and invest $4.4 billion. Taipei had not commented, and Seoul said its own share of the project is not yet finally approved.
Germany releases more oil reserves and plans to secure its eleven refineries
Berlin is releasing another part of its emergency oil stocks, while Economy Minister Katherina Reiche opened a dialogue on keeping the country's eleven refineries running.
First Russian diesel tanker under Trump-Putin deal heads for New York, due 7 November
The Maltese-flagged tanker Agioi Fanendes loaded Russian diesel at Primorsk on 22 October. The Kremlin says more deliveries will follow, while the cargo's size is reported differently by different sources.
Poland signs deal to prepare second nuclear plant, with Bełchatów and Konin still preferred
The Ministry of Energy, PEJ and PGE signed an agreement on Tuesday, 13 October, making PEJ the investor and coordinator and giving PGE the location analyses and feasibility studies. The updated national nuclear programme targets selecting a technology partner in 2027, with construction around 2032.
TotalEnergies pledges 8 to 12 cent diesel cut as France releases strategic fuel stocks
Patrick Pouyanné said the cut will follow the release of 10 million barrels from France's strategic stocks, starting in early November. TotalEnergies also committed to 20 cents off non-road diesel used by farmers, construction firms and fishermen.
Germany plans national gas reserve funded by a levy from October 2027
The draft law sets a reserve of 24 terawatt-hours for crises such as sabotage, paid for by a levy that would first apply on 1 October 2027. Typical households would pay between 3.77 and 7.20 euros a year.
German fuel tax cut passes on only about two thirds to drivers, DIW finds
Two weeks after the tax cut took effect on 1 October, the DIW estimates that about two thirds of the 16.7 cent reduction has reached drivers. Weak competition among refiners and wholesalers is the suspected cause.
Portugal's regulator proposes 1.5% electricity tariff rise for regulated customers in January 2027
Portugal's energy regulator proposed an average 1.5% increase for about 780,000 regulated-market customers from January 2027, while network access tariffs would fall 13.7%.
BP flags $3 billion to $4.5 billion in impairments as refining margins climb
BP expects $3 billion to $4.5 billion of impairments in its third-quarter results on its gas and low-carbon energy segment, and says net debt has already reached its 2027 target.
Diesel to rise 4.5 cents and petrol fall 1.5 cents in Portugal from 19 October
The Automóvel Club de Portugal projects diesel at 2.189 euros a litre and petrol at 2.10 euros from Monday, 19 October, though the figures can still shift with market moves through 16 October.
Maximum price of Pb95 petrol set at 7.11 zł for Wednesday, 14 October
Maximum prices for Wednesday, 14 October, put a litre of Pb95 petrol at 7.11 zł. The caps in force on Tuesday, 13 October, were 7.06 zł for Pb95, 7.95 zł for Pb98 and 8.02 zł for diesel.
IEA sees diesel market staying tight through 2027 as oil demand drops
The International Energy Agency expects diesel supply to stay constrained into 2027 and sees global oil demand falling 2.6 million barrels per day in 2026. Renewed attacks in the Gulf add risk to the recovery in Middle East oil exports.