Category: Energy

September 12, 2022

The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow’s ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost […]

September 9, 2022

European Union nations struggled to find common ground Friday on ways to shield the population from dramatically increasing energy prices that threaten to plunge millions into cold and poverty over the winter as Russia chokes off natural gas supplies. As […]

September 7, 2022

First, as you may have heard, Russia cut the tap indefinitely for Nord Stream 1 pipeline gas flows. Russian President Vladimir Putin today blamed Germany and Western sanctions for the halt in operations, but said that gas flows could restart […]

September 7, 2022

Europe is struggling to contain an energy crisis that could lead to rolling blackouts, shuttered factories and a deep recession. The primary cause: Russia has choked off the supplies of cheap natural gas that the continent depended on for years […]

September 6, 2022

Russia sent significantly more oil and coal to India and China over the summer compared with the start of the year, while European countries that long relied on Russian energy have cut back sharply in response to the war in […]

September 6, 2022

A cap on wholesale gas costs to freeze energy bills at their current level is being finalised by the government as it moves to shield households and businesses from soaring prices. The action is set to be the first major […]

September 1, 2022

The US and its G7 allies plan to meet Friday to discuss putting a limit on the price of Russian oil, a move that could cut the revenue flowing into Moscow’s coffers — but risks sending crude prices soaring. The […]

September 1, 2022

Crude oil prices plunged more than 30% off the June highs with WTI spilling into a key technical support zone. Despite a steep weekly sell-off and a range of nearly 11%, oil continues to trade just above this critical zone […]

August 30, 2022

German Chancellor Olaf Scholz said Tuesday that his country is well-prepared to tackle a possible energy shortage because of Russia’s squeeze on European gas supplies, even as fears grow about the juggernaut of rising prices that will likely hit consumers […]

August 30, 2022

Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes. Brent crude futures for October settlement fell $2.45, or 2.33%, to $102.64 a […]

August 29, 2022

Tesla Inc. boss Elon Musk told European energy leaders that the world needs more oil and natural gas and should continue operating nuclear power plants while investing heavily in renewable energy sources. “I think we actually need more oil and […]

August 26, 2022

Jennifer Jones keeps feeding money into her energy meter, but it never seems to be enough. And when she can’t pay, she feels the impact immediately. The power in her London home has gone off suddenly three times recently, once […]

August 23, 2022

The US’s strategic oil reserves fell to their lowest level in 37 years last week as the releases ordered by President Joe Biden continued. Strategic petroleum reserve (SPR) stockpiles fell to 453.1 million barrels in the week to Friday, according […]

August 15, 2022

The US has raised concerns that India hid the origin of Russian oil shipped to New York, a top Indian central banker said. Speaking at a recent event in Bhubaneswar, India, Michael Patra, the deputy governor heading monetary policy at […]

August 15, 2022

Saudi Aramco has posted an eye-watering 90% jump in quarterly profit, notching another record as oil prices soar during the energy crisis. Saudi Arabia’s state oil and gas company pulled in $48.4 billion in the second quarter of 2022, according […]

August 8, 2022

WTI crude oil made a small recovery in Asia today after hitting a 6-month low of US$ 87.01 on Friday as the US Dollar found support across the board. Data from energy technology company Baker Hughes showed a small drop […]

August 2, 2022

Crude oil prices fell to kick off August, putting the commodity on track for a third monthly loss, assuming the nearly 5% drop on Monday is a sign of what’s to come. China’s National Bureau of Statistics (NBS) reported a […]

July 14, 2022

The news comes as the oil and gas sector enjoys bumper profits, with the world recovering from the worst of the coronavirus pandemic and prices being fuelled by Russia’s war in Ukraine. Shell’s chief executive Ben van Beurden told Reuters […]

July 12, 2022

U.S. Treasury Secretary Janet Yellen and Japan’s finance minister agreed Tuesday to cooperate in dealing with challenges from the war in Ukraine and promoting free trade, sustainable energy and food security. Yellen was visiting Tokyo on Tuesday for talks ahead […]

July 11, 2022

WTI crude oil prices have been rising swimmingly since a bottom was found at the peak of the 2020 global pandemic. Heading into the end of the second quarter, the commodity’s momentum slowed notably. Following the brief spike when Russia […]