... compared to the same period in 2024. According to the Energy Information Administration (EIA), around 25% of all electricity in the country is now generated from coal—the highest share in several years. This surge is driven by multiple factors: High Gas Prices: The rise in natural gas prices has made coal a more economically attractive fuel for generation, especially for baseload capacities. Reliability of the Energy System: In an effort to avoid interruptions, authorities and companies maintain coal plants on standby ...

... decelerated amid companies' efforts to build inventory. At the same time, there has been a slight outflow of personnel—companies are not replacing departed employees due to weak demand. Market participants note moderate optimism, with many expecting a rise in demand and an expansion of product lines. Rising costs remain a risk factor; however, the strengthening ruble mitigates price pressure on imported components, slowing inflation acceleration in the sector. Stock Market The situation in the stock market remains cautious. The Moscow Exchange index fluctuates within a narrow range, supported by a level of approximately 2600–2700 ...

... to curb fuel prices. By equalizing rates for the transportation of coal and petroleum products, it would be possible to offset the impact of rising excise taxes. However, tariff adjustments should be implemented alongside other measures to contain price growth. These measures include maintaining the current corporate income tax base rate for refineries (set to rise from 20% to 25% in 2025) and increasing exchange trading quotas for gasoline and diesel producers. Without these measures, the fuel market may face a new wave of price hikes at the beginning of next year. Translated using ChatGPT. ...

... feared uncontrolled escalation of the conflict to the point of threats to navigation in the Strait of Hormuz; however, this did not materialize, and no supply disruptions from the Persian Gulf have been noted. As a result, markets calmed down, and the price rise stalled, Gromov stated. "As long as the war remains limited to aerial attacks we've observed for the last two years," the expert reflects. "Following the unprecedented terrorist attack in October 2023, Israel and Iran have already ...

... replacement—especially as rates rise and logistics become more expensive," Kasatkin noted. He added that the decision to lower the price ceiling to ~$47.6 is an important signal. This will increase the discount of Urals to Brent, especially if global prices rise. "However, the effectiveness of the ceiling depends on compliance: in reality, Russia and its buyers have long moved to over-the-counter trading with settlements outside the dollar and SWIFT systems, and a number of transactions are occurring ...