Tensions in the Middle East in early March 2026 have sent global energy markets into a price storm, with crude oil and petroleum products surging sharply. This development has not only strained economies heavily dependent on fuel imports but has also tested the response capacity of many countries.

Minister of Industry and Trade Nguyen Hong Dien is in Moscow to attend the Russian Energy Week ( REW 2022 ) International Forum, which was opened at Manege Central Exhibition Hall on October 12.

Oil prices were mixed a day after the world's major oil producers announced moderate production cuts. Oil-exporting countries declared their readiness to protect oil prices, while importers tried to restrain and impose a ceiling on the price of black gold.