Daily Morning Brief

President Trump declared an immediate energy ceasefire between Russia and Ukraine, stopping attacks on oil refineries amidst controversy over Russian diesel exports.

The UN warns developing nations face a triple crisis of soaring oil prices, El Niño-induced crop failures, and high borrowing costs. Alexander De Croo calls for international solidarity as fiscal space depletes, risking millions falling into poverty.

Mauritania appointed former minister Mohamed Ould Abdel Vetah as energy and petroleum minister, recalling his role during the 2020 Greater Tortue Ahmeyim gas deal. The appointment coincides with the GTA project commencing production in December 2024 and shipping its first LNG cargo in April 2025.

The Reserve Bank of India stabilized the rupee with measures like a dollar window for oil refiners, citing high oil prices and capital outflows. Analysts question sustainability as energy costs drive currency pressure.

UK Chancellor John Healey plans short-term cost-of-living support, including fuel duty freezes and a potential windfall levy on oil and gas companies, to manage fiscal headroom amid rising global borrowing costs linked to the US-Iran conflict.