Britain will increase oil and gas production after announcing that it will ban imports of Russian oil by the end of the year, Transport Minister Grand Saps said today. Britain announced yesterday, Tuesday, that it would phase out imports of Russian oil and oil products by the end of 2022 and would consider banning Russian […]
Tag: oil
France (Lemerre): We are experiencing an oil shock similar to 1973
LAST UPDATE: 12.09 The current energy crisis, characterized by a spike in prices, is “comparable in intensity, in brutality, to the oil shock of 1973,” French Economy Minister Bruno Lemerre said today. Oil and gas prices have skyrocketed since the start of the Russian invasion of Ukraine on February 24, following Western sanctions targeting Moscow: […]
De-escalation trends in the energy markets – ‘Dive’ 28% natural gas
LAST UPDATE: 17.40 Concerns about the impact of the Russian invasion of Ukraine appear to be waning, as global markets appear to be showing signs of de-escalation in recent developments. In this climate, oil, after continuing its upward rally in the morning to $ 131 a barrel, as US President Joe Biden announced yesterday that […]
Oil continues to rally, at $ 131 / barrel brent
Oil continues its upward rally to $ 127 a barrel as US President Joe Biden announced yesterday that the United States would ban imports of Russian crude, escalating efforts to hamper the country’s economy while pushing even harder for energy markets. West Texas Intermediate for April delivery rose 2.4% to $ 126.72 a barrel in […]
Oil continues to rally, at $ 131 / barrel Brent – ‘Dive’ 18% natural gas
LAST UPDATE: 11.30 Oil continues its upward rally to $ 127 a barrel as US President Joe Biden announced yesterday that the United States would ban imports of Russian crude, escalating efforts to hamper the country’s economy while pushing even harder for energy markets. West Texas Intermediate for April delivery rose 2.4% to $ 126.72 […]
De-escalation trends in the energy markets – ‘Dive’ 20% natural gas
LAST UPDATE: 14.40 Concerns about the impact of the Russian invasion of Ukraine appear to be waning, as global markets appear to be showing signs of de-escalation in recent developments. In this climate, oil, after continuing its upward rally in the morning to $ 131 a barrel, as US President Joe Biden announced yesterday that […]
Aviation: New upheavals cause Ukraine and energy crisis
Of Costa Ketsietzis The prospects for the recovery of the aviation industry are threatened by the war in Ukraine and the spike in oil prices, which has affected the prices of aviation fuel, respectively. As travel, at least within the EU, becomes easier and with fewer restrictions and conditions, flights become more expensive with airline […]
How will the Biden embargo on Russian oil ‘hurt’ the economy?
On Tuesday Joe Biden has announced a ban on Russian oil imports to the United States, in the latest round of sanctions imposed on Moscow for its invasion of Ukraine. But as energy prices continue to soar and war rages in Ukraine, experts warn that the US president’s historic embargo could lead to even higher […]
Politico: Britain will ban imports of Russian oil
Britain will ban imports of Russian oil, Politico quoted Whitehall officials as saying. The official announcement is expected later today. Politico said it would take several months for the ban to take effect so that the global market could adapt and people could stop buying gasoline because of panic. Imports of Russian gas will not […]
IEA: Ready to release as much oil as needed from stocks
The head of the International Energy Agency (IEA) told the Financial Times that its members were ready to release more oil from emergency reserves to curb its ever-rising prices. In particular, Fatih Birol said the coordinated release of 60 million barrels last week from the US and other countries was an “initial response” corresponding to […]
