Mountainous and remote, the Greek-Bulgaria border once formed the southern corner of the Iron Curtain. Today, it’s where the European Union is redrawing the region’s energy map to ease its Continue Reading
Russia built a self-proclaimed fortress around its economy in the run-up to war—but there was a crack. Moscow depended on foreign middlemen to ferry its most strategic and lucrative export Continue Reading
The eurozone’s economy continued to grow at a modest pace in the first three months of the year, but faces the threat of a slide into recession as Russia’s war Continue Reading
The Kremlin has sought to minimize discussion of Russian war losses inside Ukraine. But apparent Ukrainian attacks on Russian soil in the past week highlight how the conflict has spilled Continue Reading
The European Union is debating energy embargos on Russia, with natural gas as one of the key talking points. Russia is ramping up threats to cut Europe’s gas if it Continue Reading
ExxonMobil continuing efforts to exit project Russian crude trading at significant discounts ExxonMobil’s Russian subsidiary Exxon Neftegas has declared force majeure for its Sakhalin 1 project, a spokesperson told S&P Continue Reading
Crude oil futures fell in mid-morning Asian trade on April 28 as news of China’s mass testing for COVID-19 weighed on sentiment, overshadowing supply-side concerns of a modest US inventory Continue Reading
Natural-gas prices swung higher on both sides of the Atlantic on Wednesday after Russia stopped exports to Poland and Bulgaria , a move that investors feared could portend deeper global Continue Reading
Oil traded near $103 a barrel as China’s spreading virus outbreak continued to weigh on the outlook for global demand. West Texas Intermediate futures have struggled for direction this week, Continue Reading
Oil prices dropped on Thursday on caution about dwindling fuel demand in China, the world’s biggest oil importer, due to the economic impact of COVID-19 restrictions. Brent crude futures had Continue Reading
Weaker demand fundamentals have dampened upside momentum for crude oil. Declining volatility and narrower intra-day trading ranges point at slowing bullish momentum for crude. Standard Chartered: lockdowns in China will Continue Reading
Corn and soybeans prices have risen nearly to records, signaling higher food inflation to come. Global food prices had already reached records when Russia invaded Ukraine in late February and Continue Reading
Vapor rises from the site of the blast furnace at the Evraz Plc Consolidated West-Siberian Metallurgical Plant in Novokuznetsk, Russia. Source: Bloomberg Bloomberg News Russia’s invasion of Ukraine and the Continue Reading
The historically severe drought in Southern California has compelled one of its water suppliers to implement “emergency” conservation measures for the first time that will affect about 6 million people. The Continue Reading
Meteorologists are monitoring the potential for a “triple-dip La Niña,” an unusual resurgence of cooler-than-normal sea surface temperatures in the eastern tropical Pacific. While such a phenomenon might seem remote, Continue Reading
Iraq is taking advantage of high global oil prices and its increasing OPEC-plus quota by ramping up production from three oil fields in Dhi Qar province. Output from the Gharraf Continue Reading
Food prices are expected to rise an annual 49% through December. Sign up for our Middle East newsletter and follow us @middleeast for news on the region. The Turkish central Continue Reading
Summer began early this year in India Millions of Indians are experiencing a brutal heatwave that is throwing lives and livelihoods out of gear – and there is no relief Continue Reading
Utility stockpiles sufficient for seven days Rangebound freight may be aiding trades: trader Buyers benefit from elevated spot market tariff Indian thermal coal buyers have started to pay very high Continue Reading
The liquefied natural gas terminal at the Yangshan Deepwater Port in Shanghai, China. Bloomberg News Strict measures to halt the spread of Covid have slowed the growth of commercial natural Continue Reading
Rising seas have long been a threat to coastal cities. New research suggests that cities—particularly in Asia—are sinking as well, compounding the risks of frequent and severe flooding. In Karachi, Continue Reading
Daily life in Shanghai has ground to a halt as parts of the city’s social services collapsed under the weight of a strict citywide Covid-19 lockdown that is stretching into Continue Reading
Wheat area may fall 4% on year, yields seen down 18% on year Area, yields seen declining on rising fertilizer costs 2022-23 wheat exports seen falling 20% to 22 million Continue Reading
Asian 2022 oil demand growth to be softer than earlier expected China’s demand destruction taking a toll on Asian consumption India, Korea oil demand uptrend overshadowed by China’s woes Asia’s Continue Reading
China will cut import tariffs for all types of coal to zero from May 1, 2022, until March 31, 2023, the finance ministry said on Thursday, as Beijing strives to Continue Reading
America’s most prolific oil field is running out of the workers, cash and equipment needed to produce more oil. In the Permian Basin, the sprawling oil-rich region in West Texas Continue Reading
Government data on Thursday is expected to provide evidence that the economic recovery remained on track in the first three months of the year — but you may have to Continue Reading
The United States is finally “out of the full-blown explosive pandemic phase” that has led to nearly 1 million deaths from covid-19 and more than two years of suffering and Continue Reading
Soaring fuel prices have been a boon for U.S. refiners this year. Growing demand and tightening supply are helping push refining margins even higher. American refiners are likely to continue Continue Reading
In response to Russia’s move to cut off gas to Poland and Bulgaria, the Biden administration has authorized more LNG shipments from two U.S. plants currently in the development phase. Continue Reading
Crude oil prices remained largely unchanged today after the U.S. Energy Information Administration reported a modest crude oil inventory build of 700,000 barrels for the week to April 22. This Continue Reading
The US power market may be in for another wave of coal-to-gas switching this summer as potential replacement fuel demand from Western Europe drives global coal prices higher. Receive daily Continue Reading
Gasoline stocks fall 1.57 million barrels USAC gasoline stocks 22% below average Cushing stocks at 11-week high Major US refined product inventories saw counter-seasonal draws in the week ended April Continue Reading
European Commission President Ursula von der Leyen says the move by Russia to halt gas delivery to certain European Union member states is a form of blackmail. “The era of Continue Reading
Russia’s Gazprom (GAZP.MM) expects about a 4% fall in gas output this year, Deputy Chief Executive Vitaly Markelov told an inhouse magazine on Thursday, in another sign of the impact Continue Reading
Uniper (UN01.DE) is continuing to pay for deliveries from Gazprom (GAZP.MM) in euros, a spokesperson for the German utility said on Thursday, adding no decision had been made yet on Continue Reading
The European Union should penalise countries that use roubles to pay for Russian gas, Poland’s climate minister said, following Moscow’s decision to cut off supplies to Poland and Bulgaria over Continue Reading
A closed McDonald’s restaurant at a shopping mall in Moscow, Russia. Source: AFP/Getty Images Bloomberg News Sign up here to get the latest updates on the Russian invasion of Ukraine. Continue Reading
LVIV, Ukraine (AP) — Ever since Russian forces took the southern Ukrainian city of Kherson in early March, residents sensed the occupiers had a special plan for their town. Now, Continue Reading
Vladimir Potanin, received a public scolding from Russian President Vladimir Putin on June 5. The broadcast came just days after his mining company, Nornickel, spilled diesel into the Arctic. Vladimir Continue Reading
Some of Europe’s largest energy companies are preparing to use a new payment system for Russian gas demanded by the Kremlin, which critics say will undercut EU sanctions, threaten the Continue Reading
Crude oil futures climbed in mid-morning Asian trade April 27, extending overnight gains, as China announced a fresh wave of financial stimulus, which helped delay demand concerns, while renewed fears Continue Reading
Oil rose after Russia cut natural gas supplies to Poland and Bulgaria, escalating Europe’s energy crisis as the war in Ukraine drags on. West Texas Intermediate traded above $102 a Continue Reading
More U.S. energy executives have been selling rather than buying stock at the fastest pace since 2012. U.S. oil and gas executives sold shares worth $1.35 billion during the quarter, Continue Reading
World bank: Russian invasion of Ukraine will alter energy trade flows for years to come. Elevated commodity prices will worsen inflationary pressures globally. The World Bank expects crude prices to Continue Reading
McKinsey: uptake of electric vehicles is the main driver for stagnating growth in oil demand. McKinsey: global liquids demand to peak around 102 million barrels per day within 2-5 years. Continue Reading
Climate change could see 4% of global annual economic output lost by 2050 and hit many poorer parts of the world disproportionately hard, a new study of 135 countries has Continue Reading
The chief officer of Iran’s new National Petrochemicals Company invites Russia to help exploit opportunities in the sector. Iran’s petchem industry has not been targeted by international sanctions so far. Continue Reading
India’s power minister has told states to step up coal imports for the next three years, four sources told Reuters, reporting remarks that imply prolonged support for already elevated global Continue Reading
Oil Palm Nigeria was once the world’s largest palm oil producer but today, it produces too little it imports. Indonesia’s surprise ban on palm oil exports offers Nigeria a lucrative Continue Reading
