The Biden administration is weighing cutting U.S. imports of Russian oil and ways to minimize the impact on global supplies and consumers, the White House said on Friday, as lawmakers Continue Reading
Russia’s invasion of Ukraine, one of the world’s breadbasket nations, has driven wheat prices to 14-year highs, forcing bread consumers to eat the cost. Russia’s Feb. 24 invasion has severely Continue Reading
U.S. energy firms this week cut the number oil rigs even as Russia’s invasion of Ukraine drove crude prices to their highest since 2008. U.S. oil rigs fell three to Continue Reading
WTI crude rose 7% following the news that the White House is considering a ban on the import of Russian crude oil. On Thursday, the White House had tersely dismissed Continue Reading
U.S. gasoline prices have surged by 20 cents in just a week, as the Russian invasion of Ukraine sent international crude oil prices soaring above $110 per barrel. The national Continue Reading
Polish gas grid operator Gaz-System will offer firm capacity towards Ukraine starting on Sunday to secure gas deliveries to the country, it said in a statement on Friday, as Kiev Continue Reading
The operator of the operational Nord Stream 1 undersea gas pipeline from Russia to Germany said on Friday that transportation of natural gas to Europe was continuing normally. “Nord Stream Continue Reading
Westbound natural gas flows through the Yamal-Europe pipeline stopped on Friday while Gazprom’s bids for additional transit capacity via Ukraine stand at high levels, data from pipeline operators shows. Flows Continue Reading
Russia’s invasion of Ukraine and the resulting international backlash has plunged energy markets into chaos, threatening dire economic consequences that rival those of the 1970s oil shocks. Bloomberg’s gauge of Continue Reading
Biden Says Russia Sanctions Have Had ‘Profound’ Impact As calls grow for the U.K. to cut off Russian companies over the invasion of Ukraine, few realize how costly that could Continue Reading
