The threat of a Russian invasion of Ukraine is shaking up a fragile global oil market, pushing prices closer to $ 100 a barrel as traders calculate that supplies will struggle to cushion the effect from any significant disruption in Russian fossil fuel exports. Demand for oil has outpaced production growth as economies slowly rebound … Read more
German regulators on Tuesday suspended the certification procedure for a controversial natural gas pipeline from Russia, raising concerns that Europe will run out of fuel this winter. Prices for fuel for heating and electricity production rose higher around the world in response. Futures rose by more than 15% in Europe. US prices rose by 3.2 … Read more
For years, the European Union tried to loosen Russia’s iron grip on its gas supplies by stimulating a competitive import market. Those efforts have skyrocketed this year as supplies run out, sparking an energy crisis across the continent. European energy ministers met on Tuesday to tackle the shortage, which is stinging homeowners and lifting prices … Read more