European natural gas is heading for its biggest streak of weekly gains this year, intensifying pain for industries and households and threatening to push economies into recession. Benchmark contracts fell on Friday after closing at a record high in the previous session. As Bloomberg reports, the market has tightened even more in recent weeks as […]
Tag: Europe
Russian expats should shut up about possible visa bans
By Leonid Bershidsky There is one issue on which Russians opposed to Russian President Vladimir Putin and his war in Ukraine have passionately sided with the Kremlin. It is about the proposal of some European countries to stop issuing tourist visas to Russians. This unfortunate alignment represents a failure of vision and leadership for the […]
Fleet of diesel ships set sail for Europe aiming for energy security
A fleet of ships carrying diesel, one of the world’s most important fuels, is heading to European markets facing threats to energy security from high temperatures, soaring gas prices and Russian gas supply disruptions, the Bloomberg agency. Five ships carrying nearly 3 million barrels are set to move from Asia to Europe so far in […]
Which energy price index in Europe doubled in two months – The energy crisis is deepening
Electricity prices soared to a new record high on Monday amid a rise in corresponding natural gas prices, reflecting the depth of the energy crisis that threatens to plunge the Old Continent into recession. The price of energy for delivery next year in Germany thus increased by up to 3.7% during the day, to 477.50 […]
The price of electricity in Europe is breaking the charts – The energy crisis is deepening
LAST UPDATE: 10.52 Electricity prices in Europe soared to a new record high on Tuesday amid a rise in corresponding natural gas prices, reflecting the depth of an energy crisis that threatens to plunge the Old Continent into recession. Germany’s electricity price, a benchmark for the European market, hit a new all-time high on Tuesday […]
The price of electricity in Europe is breaking the charts – Up to 502 euros per megawatt hour
LAST UPDATE: 13.07 Electricity prices in Europe soared to a new record high on Tuesday amid a rise in corresponding natural gas prices, reflecting the depth of an energy crisis that threatens to plunge the Old Continent into recession. Germany’s electricity price, a benchmark for the European market, hit a new all-time high on Tuesday […]
Europeans are marching emotionally unprepared for what is coming this winter
By Maria Tadeo The mayor of Vigo in Galicia, Spain has already started preparing for the town’s annual Christmas extravaganza. And this despite the effort of the Spanish government to reduce electricity consumption in cooperation with the European Union. Turning off the lights, the mayor argues, would give Vladimir Putin a victory if the holiday […]
Euro markets closed with mild gains against the background of Asia
Euro markets closed with modest gains on Monday, with investors assessing new macroeconomic data from China and Japan today. In particular, the pan-European Stoxx 600 the other pan-European also rose 0.34% to 442.35 points Stoxx 500 strengthened by 0.34% to 3,789.62 units. In the rest of the board, the German DAX gained 0.15% to 13,816.61 […]
What is Venezuela asking to continue sending oil to Europe?
Venezuela has suspended crude oil shipments to Europe under its “oil-for-debt” program and has demanded fuel from Italy’s Eni and Spain’s Repsol in exchange for continuing to send cargoes to the Old Continent, three sources with knowledge of the subject. Venezuela’s state oil company PDVSA is no longer interested in the “oil-for-debt” program the State […]
Senegal offers itself as an alternative source of natural gas for Europe
Senegal is offering itself as an alternative source of natural gas for Europe, as Russia reduces natural gas supplies, as noted by the Bloomberg agency. “Senegal will be able to sell to Europe, especially Germany, as early as the second half of 2024,” said Mamadu Fall Kane, a senior official at COZ-Petrogas, a government commission […]