Russian Oil Exports Under Fire As Iraq Slashes Prices
The price of Russia’s flagship Urals grade slumped this week as Russian supply and exports are set to grow and as Iraq cuts the price of its crude for Europe. Continue Reading
Nord Stream 2 Comes Just As European Gas Prices Reach 13-Year High
The sooner Nord Stream 2 is commissioned and launched, the better chance the Russia-led gas pipeline to Germany will have to balance surging gas prices in Europe, including on the Continue Reading
Kremlin Spokesman Assures Markets Nord Stream 2 Will Stabilize Natural Gas Price
The Kremlin today said that a rapid start-up of the controversial Nord Stream 2 pipeline would help to correct sky-high gas prices across Europe amid a squeeze in supply. Spokesman Continue Reading
Europe’s Energy Crunch Is Forcing U.K. Factories to Shut Down
WATCH: Natural gas and energy prices in Europe have been continuing their record-breaking run. Europe’s energy crunch has forced a major fertilizer maker to shut down two U.K. plants, the Continue Reading
Italy working on measures to curb power prices – minister
Italy will introduce short-term measures to offset the expected rise in retail power prices and is working on a longer-term reform of power bills, energy transition minister Roberto Cingolani said Continue Reading
British Among Hardest Hit as Living Costs Rise During Pandemic
Montagne Says Economy Needs to Plan Ahead Central bankers worldwide are weighing the probability of higher inflation. Consumers around the world say they are already feeling the pinch. About 40% Continue Reading
UK power prices soar after key cable hit by blaze
The fire at the National Grid site broke out just after midnight on Wednesday A key electricity cable between Britain and France has been shut down, sending wholesale energy prices Continue Reading
Netherlands rules out change to Groningen gas field policy despite high prices
Highlights Output hike would lead to higher earthquake risk: ministry Field set to close in mid-2022, back-up role to remain European gas prices on run to record highs The Dutch Continue Reading
Oil Extends Rally as Industry Report Shows Slump in Inventories
Oil gained after a U.S. industry report showed another decline in inventories of crude and gasoline, signaling a tightening market. Global benchmark Brent rose above $74, while West Texas Intermediate Continue Reading
Oil prices climb after drawdown in stocks, positive demand outlook
Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer, and on expectations Continue Reading