{"id":66173,"date":"2026-08-08T05:38:19","date_gmt":"2026-08-08T09:38:19","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-and-trade-volatility-us-senate-passes-100-tariff-bill-as-ukraine-strikes-russian-refineries\/66173\/"},"modified":"2026-08-08T05:38:19","modified_gmt":"2026-08-08T09:38:19","slug":"global-energy-and-trade-volatility-us-senate-passes-100-tariff-bill-as-ukraine-strikes-russian-refineries","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-and-trade-volatility-us-senate-passes-100-tariff-bill-as-ukraine-strikes-russian-refineries\/66173\/","title":{"rendered":"Global Energy and Trade Volatility: US Senate Passes 100% Tariff Bill as Ukraine Strikes Russian Refineries"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-and-trade-volatility-us-senate-passes-100-tariff-bill-as-ukraine-strikes-russian-refineries\/66173\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-and-trade-volatility-us-senate-passes-100-tariff-bill-as-ukraine-strikes-russian-refineries\/66173\/#US_Senate_Moves_to_Squeeze_Russian_Energy_Revenue\" >US Senate Moves to Squeeze Russian Energy Revenue<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-and-trade-volatility-us-senate-passes-100-tariff-bill-as-ukraine-strikes-russian-refineries\/66173\/#Ukraine_Targets_Russian_Energy_Infrastructure\" >Ukraine Targets Russian Energy Infrastructure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-and-trade-volatility-us-senate-passes-100-tariff-bill-as-ukraine-strikes-russian-refineries\/66173\/#Natural_Gas_Fundamentals_Overpower_Geopolitical_Heat\" >Natural Gas Fundamentals Overpower Geopolitical Heat<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-and-trade-volatility-us-senate-passes-100-tariff-bill-as-ukraine-strikes-russian-refineries\/66173\/#McCourt_Bets_Big_on_Equestrian_Sports\" >McCourt Bets Big on Equestrian Sports<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-and-trade-volatility-us-senate-passes-100-tariff-bill-as-ukraine-strikes-russian-refineries\/66173\/#Typhoon_Dolphin_Disrupts_Chinese_Logistics\" >Typhoon Dolphin Disrupts Chinese Logistics<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>The US Senate passed the &quot;Lindsey O. Graham Sanctioning Russia and Iran Act of 2026&quot;<\/strong> by an 86-11 vote, authorizing the President to impose <strong>tariffs of up to 100%<\/strong> on countries like <strong>India<\/strong> and <strong>China<\/strong> that continue to purchase Russian energy.<\/li>\n<li><strong>Ukraine launched a massive drone strike<\/strong> on the <strong>Ilsky<\/strong> and <strong>Syzran<\/strong> oil refineries in Russia, targeting facilities with a combined annual capacity of over <strong>15 million tonnes<\/strong> of <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">crude oil<\/a>.<\/li>\n<li><strong>Natural gas prices remain depressed<\/strong> near <strong>$2.68\/MMBtu<\/strong> despite escalating geopolitical risks, as record production and healthy storage levels in the US and Europe offset supply concerns.<\/li>\n<li><strong>Billionaire Frank McCourt<\/strong> launched the <strong>Premier Jumping League (PJL)<\/strong> with a record-breaking <strong>$300 million prize pot<\/strong>, securing a landmark <strong>$50 million team acquisition<\/strong> ahead of its 2027 inaugural season.<\/li>\n<li><strong>Typhoon Dolphin<\/strong> has forced the closure of major Chinese ports and airports in <strong>Zhejiang<\/strong> and <strong>Shanghai<\/strong>, with over <strong>600mm of rainfall<\/strong> forecast as the storm approaches landfall.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"US_Senate_Moves_to_Squeeze_Russian_Energy_Revenue\"><\/span>US Senate Moves to Squeeze Russian Energy Revenue<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>US Senate<\/strong> has overwhelmingly approved legislation that could fundamentally alter global energy trade. The <strong>Lindsey O. Graham Sanctioning Russia and Iran Act of 2026<\/strong> gives President <strong>Donald Trump<\/strong> the authority to levy <strong>100% tariffs<\/strong> on goods from the five largest buyers of Russian energy, specifically naming <strong>India<\/strong>, <strong>China<\/strong>, <strong>Slovakia<\/strong>, <strong>Hungary<\/strong>, and <strong>Azerbaijan<\/strong>.<\/p>\n<p><em>Market analysts suggest this move aims to force a decoupling from Russian crude<\/em>, which has provided a <strong>$40 billion lifeline<\/strong> to Moscow&#39;s economy. While the bill must still pass the <strong>House of Representatives<\/strong> after it reconvenes on <strong>August 31<\/strong>, the threat alone is pressuring Indian policymakers to negotiate or diversify their energy sources.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ukraine_Targets_Russian_Energy_Infrastructure\"><\/span>Ukraine Targets Russian Energy Infrastructure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a coordinated overnight operation, <strong>Ukraine\u2019s Defense Forces<\/strong> struck the <strong>Ilsky<\/strong> refinery in Krasnodar Krai and the <strong>Syzran<\/strong> refinery in Samara Oblast. The <strong>Ilsky<\/strong> facility, which processes <strong>6.6 million tonnes<\/strong> annually, and the <strong>Syzran<\/strong> facility, a <strong>Rosneft<\/strong> (<a href=\"\/stock\/ROSN\">ROSN<\/a>) asset with an <strong>8.5 million tonne<\/strong> capacity, both reported significant fires following the strikes.<\/p>\n<p>Meanwhile, <strong>Kyiv<\/strong> suffered a retaliatory Russian barrage involving <strong>six ballistic missiles<\/strong> and over <strong>150 drones<\/strong>. Local officials confirmed <strong>four deaths<\/strong> in the capital and surrounding regions, noting that <strong>depleted air defenses<\/strong> failed to intercept any of the ballistic missiles, underscoring a critical shortage of <strong>Patriot<\/strong> interceptor ammunition.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Natural_Gas_Fundamentals_Overpower_Geopolitical_Heat\"><\/span>Natural Gas Fundamentals Overpower Geopolitical Heat<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the ongoing conflict in the Middle East and the intensification of the Russia-Ukraine war, <strong>natural gas futures<\/strong> have lost momentum. <strong>NYMEX natural gas<\/strong> is currently trading around <strong>$2.68 per MMBtu<\/strong>, as the market prioritizes <strong>abundant supply<\/strong> over geopolitical risk premiums.<\/p>\n<p><em>The International Energy Agency (IEA) expects global LNG supply growth in 2026 to be the strongest since 2019<\/em>, driven by new projects in the US and <strong>Qatar<\/strong>. This surge in availability, combined with <strong>high storage inventories<\/strong> in Europe, has limited speculative buying even as tensions between the US and Iran remain unresolved.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"McCourt_Bets_Big_on_Equestrian_Sports\"><\/span>McCourt Bets Big on Equestrian Sports<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Billionaire <strong>Frank McCourt<\/strong>, owner of <strong>Olympique de Marseille<\/strong>, is spearheading a massive shakeup in professional showjumping. His <strong>McCourt Global<\/strong> firm has committed a <strong>$300 million guaranteed prize pot<\/strong> to the <strong>Premier Jumping League (PJL)<\/strong>.<\/p>\n<p>The league recently announced its first team sale, with investor <strong>Jason McCarthy<\/strong> acquiring a franchise for <strong>$50 million<\/strong>. The <strong>PJL<\/strong> plans to launch in <strong>March 2027<\/strong>, featuring <strong>16 teams<\/strong> competing across <strong>14 international venues<\/strong>, aiming to professionalize the sport through a centralized broadcasting and sponsorship model.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Typhoon_Dolphin_Disrupts_Chinese_Logistics\"><\/span>Typhoon Dolphin Disrupts Chinese Logistics<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>China<\/strong> has issued an <strong>orange alert<\/strong> as <strong>Typhoon Dolphin<\/strong> lashes the region with winds reaching <strong>216 kph<\/strong>. The storm has already caused power outages for <strong>14,000 buildings<\/strong> in Japan&#39;s <strong>Okinawa<\/strong> and is now threatening the eastern Chinese coast.<\/p>\n<p>Major transport hubs, including <strong>Ningbo Lishe International Airport<\/strong>, have halted operations, and <strong>Shanghai\u2019s Yangshan port<\/strong> has been cleared of vessels. Authorities have suspended <strong>162 ferry routes<\/strong> and several rail services in the <strong>Yangtze River Delta<\/strong>, anticipating catastrophic flooding and landslides as the storm makes landfall between <strong>Zhejiang<\/strong> and <strong>Fujian<\/strong> provinces.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The US Senate passed the &quot;Lindsey O. Graham Sanctioning Russia and Iran Act of 2026&quot; by an 86-11 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[21343,1327,21344,1947,4086,4335,4491,4811,5042,5196,5551],"class_list":["post-66173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-natgas","tag-china","tag-pjl","tag-oil","tag-india","tag-donald-trump","tag-energy-markets","tag-global-trade","tag-ukraine","tag-russia","tag-iea"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/66173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=66173"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/66173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=66173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=66173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=66173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}