Bad Bunny wins album of the year at the 2025 Latin Grammys, capping an electric night

It should come as a shock to no one: The 2026 Latin Grammy Awards were all about Bad Bunny. The Puerto Rican superstar won album of the year for his landmark release “Debí Tirar Más Fotos.” After thanking his family and all those who worked on the album, he ended his speech with “Puerto Rico, I love you, thank you.”

Those are powerful words honoring a record that doubles as a love letter for his island.

The artist born Benito Antonio Martínez Ocasio was destined to dominate from the jump. He also won the first award of the night, for música urbana album. Halfway through the show, the singer found himself back on stage accepting the música urbana song trophy for “DTmF.” “I never practice my speeches,” he said in Spanish. And then he showed up for a third time: to perform “Weltita” with Chuwi.

He wasn't the only one with reason to celebrate: Song of the year went to Karol G, Andrés Jael Correa Ríos and Édgar Barrera for “Si Antes Te Hubiera Conocido." And Alejandro Sanz took home record of the year for “¿Y Ahora Qué?”

Live from Sin City, the 26th annual Latin Grammys were both energetic and eclectic. Take Raphael, the 2025 Person of the Year, who launched into an emotive rendition of “Qué Sabe Nadie” and “Mi Gran Noche," inviting the crowd to sing along.

That was after Santana kicked things off — specifically, Maluma singing Santana's 1970 hit “Oye Como Va” with the guitar legend himself.

It was just the beginning of a memorable medley, talents of today celebrating Santana — Christian Nodal joining in for “Corazón Espinoza" and Grupo Frontera for their 2025 collaboration with the virtuosic musician, “Me Retiro.”

Performances hit hard and fast: Aitana brought her dreamy electro-pop, Sanz delivered a medley of “El Vino De Tu Boca” and “Las Guapas,” Rauw Alejandro channeled Puerto Rico in Vegas with “Khé?,” the bachata “Silencio,” “Falsedad” and “Carita Linda.” Then: Danny Lux, Kakalo and Ivan Cornejo brought contemporary Mexicana sounds. Pepe Aguilar followed, with his life-affirming mariachi — “El Cihualteco” into “El Fuereño.”

Elena Rose slowed things down with “Me Lo Merezco.” Karol G and the legendary Mexican singer Marco Antonio Solís dueted the romantic ballad “Coleccionando Heridas."

Two of the biggest groups in regional Mexican music – Grupo Frontera and Fuerza Regida – launched into their joint hit, “Me Jalo,” before the latter took over for “Marlboro Rojo.” That’s a cut from their record-breaking 2025 album “111xpantia.” Carín León’s lovely raspy vocal tone carried throughout “Ahí Estabas Tú”; then he was joined by Kacey Musgraves for “Lost in Translation.” Not long after, León took home the trophy in competitive contemporary Mexican album category for “Palabra De To’s (Seca).”

Morat brought the pop-rock with “Faltas Tú" and Ca7riel and Paco Amoroso brought a kind of outsider, artistic spirit. Joaquina delivered a full-bodied “Quise Quererte.” Any aspiring artists watching would be wise to take a page out of the Brazilian singer Liniker's book; “Negona Dos Olhos Terríveis” was one of the night's most joyful. The same, of course, should be said about norteño band Los Tigres del Norte.

The coveted best new artist trophy was handed out to Paloma Morphy.

Traditional tropical album went to Gloria Estefan for “Raíces.” Not long afterward, she hit the stage for “La Vecina” and “Chirriqui Chirri,” joined by Nathy Peluso for the latter.

Then ranchero/mariachi album went to Christian Nodal for “¿Quién + Como Yo?”

Most of the evening’s awards were handed out during a pre-televised Premiere Ceremony. That included: Bad Bunny’s “Voy A Llevarte Pa Pr” winning for reggaeton performance. Argentinian duo Ca7riel and Paco Amoroso cleaned house then, too: taking home their first Latin Grammys for short and long form music video, alternative song, as well as alternative music album for “Papota,” and pop song for “El dia del amigo.” That's five wins, making them the most awarded act at the 2025 show.

The three-hour award show aired live from Las Vegas’ MGM Grand Garden Arena. It was hosted by the dynamic duo of Maluma and actor, producer and musician Roselyn Sánchez.

This story has been updated to correct that Maluma helped open the Latin Grammys, not Miguel.

Chuwi and Bad Bunny perform during the 2025 Latin Grammys on Thursday, Nov. 13, 2025, at MGM Grand in Las Vegas. (AP Photo/Chris Pizzello)

Bad Bunny accepts the award for Album of the Year during the 2025 Latin Grammys on Thursday, Nov. 13, 2025, at MGM Grand in Las Vegas. (AP Photo/Chris Pizzello)

Raphael, recipient of the Person of the Year Award, performs during the 2025 Latin Grammys on Thursday, Nov. 13, 2025, at MGM Grand in Las Vegas. (AP Photo/Chris Pizzello)

Bad Bunny accept the award for best urban song for "DtMF," during the 2025 Latin Grammys on Thursday, Nov. 13, 2025, at MGM Grand in Las Vegas. (AP Photo/Chris Pizzello)

Maluma performs during the 2025 Latin Grammys on Thursday, Nov. 13, 2025, at MGM Grand in Las Vegas. (AP Photo/Chris Pizzello)

Pepe Aguilar performs "El Chihualteco" and "El Fuereno" during the 2025 Latin Grammys on Thursday, Nov. 13, 2025, at MGM Grand in Las Vegas. (AP Photo/Chris Pizzello)

Nathy Peluso, left, and Gloria Estefan perform during the 2025 Latin Grammys on Thursday, Nov. 13, 2025, at MGM Grand in Las Vegas. (AP Photo/Chris Pizzello)

Santana performs a medley at the start of the 2025 Latin Grammys on Thursday, Nov. 13, 2025, at MGM Grand in Las Vegas. (AP Photo/Chris Pizzello)

Bad Bunny accepts the award for best urban music album for "DeBí TiRAR MáS FOToS" during the 2025 Latin Grammys on Thursday, Nov. 13, 2025, at MGM Grand in Las Vegas. (AP Photo/Chris Pizzello)

NEW YORK (AP) — Global leaders have been scrambling to contain the rising cost of oil and gasoline since the start of the Iran war, which took a record amount of oil off the market when tankers full of crude were stranded in the Persian Gulf and military strikes damaged refineries, pipelines and export terminals.

Hoping to ease some pain for consumers, President Donald Trump and other heads of state have been pulling on various levers, launching more oil on the market in a bid to calm the chaos.

A group of 32 nations that are members of the International Energy Agency began releasing the largest volume of emergency oil reserves in its history: 400 million barrels. Trump is tapping into oil from the Strategic Petroleum Reserve while lifting sanctions on Russian and Iranian crude and temporarily waiving the Jones Act, a maritime law that requires ships carrying goods between U.S. ports to be U.S.-flagged.

But despite those maneuvers, crude oil surpassed $100 a barrel and gasoline is selling for $4.06 a gallon on average in the U.S. While the stopgaps are helping, they're not adding up to enough oil to replace what's stranded, experts say.

“They're all incremental,” said Mark Barteau, professor of chemical engineering and chemistry at Texas A&M University. "You’re talking about these different patches being at the level of maybe 1 to 2 million barrels a day each, and you’ve got to get to 20, so it’s hard to see those actually adding up to the numbers that are needed. And then the question is, how long can you sustain those?”

Before the war began, roughly 15 million barrels of crude oil and 5 million barrels of oil products passed daily through the Strait of Hormuz, the narrow mouth of the Persian Gulf, amounting to about 20% of global oil consumption, according to the International Energy Agency.

In addition to that loss, some oil producing nations in the Middle East have halted oil production because they can't ship fuel out of the Gulf and their storage tanks are full. That's taken about 10 million more barrels per day off the market, the IEA said.

Then there are the eight countries around the Persian Gulf that together hold about 50% of global oil reserves. Under normal circumstances, they coordinate closely to raise or lower their output to keep prices steady, said Jim Krane, energy research fellow at Rice University’s Baker Institute. Usually Saudi Arabia steps in to bring spare oil to market and calm things down, he said.

“But all of that spare capacity is also bottled up inside the Persian Gulf right now and it can’t get to market either,” Krane said. “So the main emergency response system that we have is also blocked.”

The IEA said in its recent report that “the resumption of transit through the Strait of Hormuz is the single most important action to return to stable oil and gas flows and reduce the strains on markets and prices.”

Barring that, world leaders are grasping for ways to free up more oil.

Some nations have found workarounds to move oil out of the Gulf. Saudi Arabia is using its East-West pipeline, which stretches from the Persian Gulf to the Red Sea, to transfer about 5 million barrels per day out of the Gulf, said Michael Lynch, distinguished fellow at Energy Policy Research Foundation, a non-partisan institution focused on energy and economics. But the nation was already using that pipeline to transport oil, so it doesn’t have a lot of spare room to move oil from stranded tankers.

Trump also temporarily lifted sanctions on approximately 140 million barrels of Iranian oil that was already in transit. But that didn’t add oil to the market — it just widened the pool of potential buyers, said Daniel Sternoff, senior fellow at the Columbia Center on Global Energy Policy.

Typically, most Iranian oil was bought by private refiners in China, who purchased it at a steep discount, Sternoff said. But with sanctions lifted, others could scramble to buy the oil, which in turn raises its price to the benefit of Iran, he said.

“As soon as you are moving to waive sanctions on your adversary with whom you’re fighting a military conflict, to do something in their benefit, it just shows you that you are running out of options to try to prevent a rise in the price of oil,” Sternoff said.

The decision to lift sanctions on Russian oil could have more impact, because Russia had been storing unpurchased oil in tankers, Sternoff said. “By waiving sanctions, it will allow those barrels to clear.”

Trump’s temporary waiver of the Jones Act to allow foreign ships to temporarily transport goods between U.S. ports could potentially help ease natural gas prices by enabling companies to more efficiently ship liquefied natural gas from the Gulf Coast to New England.

But experts don’t expect the waiver to significantly impact the price of oil or gasoline. “It’s helpful, but not a game changer,” Lynch said.

The U.S. is a major oil producer, and exports more oil than it imports. But like any other oil producing nation, it can't just ramp up production instantly to fill the void.

“If the U.S. were to try to make up the global shortfall, we would need to nearly double our production,” Barteau said. “We couldn’t drill wells that fast even if we wanted to.”

Increasing domestic production by even 1 million barrels per day, a feat the U.S. accomplished during the shale boom, would be hard to duplicate, Lynch said.

“If we run every drilling rig right now, what happens a week from now when the war is over and the price goes back down $20?” Lynch asked. “People don’t want to develop long-term production based on a short-term price spike.”

Halting exports and using that oil within the U.S. wouldn't bring down gasoline prices either, experts say.

For one, oil is traded on a global market, so events happening halfway around the globe impact prices for everyone.

In addition, the U.S. doesn't produce enough of the type of oil its refineries process. It produced about 13.7 million barrels per day of oil at the end of 2025, according to the Energy Information Administration. And refineries processed about 16.3 million barrels per day that year, relying on imports to fill in the gaps, according to the American Fuel and Petrochemical Manufacturers (AFPM), a trade association.

That's because nearly 70% of U.S. refineries are set up to process heavy, sour crude, according to AFPM. But much of the oil produced in the U.S. is light, sweet crude, which was unlocked during the shale revolution.

“They need different crudes than the ones that are being produced right next to them now,” Krane said.

As a result, just 60% of the crude oil processed in U.S. refineries is extracted domestically, according to the AFPM. And retooling domestic refineries would cost billions of dollars, the group said. It also would require shutting down the refinery for a period of time, which generally raises gasoline prices.

“A lot of people like the IEA are making the point that this is the biggest oil crisis ever, which is partly true, partly an exaggeration, depending on how you count things,” Lynch said. “A lot of it has to do with how long does this last ... if it goes on for another six weeks we get to be in some serious trouble.”

A sign shows the price of gas at a store, Tuesday, March 31, 2026, in Freeport, Maine. (AP Photo/Robert F. Bukaty)

The sun has set behind a gas station in Frankfurt, Germany, Tuesday, March 31, 2026. (AP Photo/Michael Probst)

A worker collects engine oil as he works at a degassing station in Zubair oil field, whose operations have being reduced due to the Mideast war triggered by the U.S. and Israeli attacks on Iran, near Basra, Iraq, Saturday, March 28, 2026. (AP Photo/Leo Correa)

Gas prices are displayed at a Chevron gas station, in downtown Los Angeles, Tuesday, March 31, 2026. (AP Photo/Jae C. Hong)