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Daily (12.01.2023): Oil prices soared by 3% to one-week high on Wednesday amid improved global economic outlook
Crude oil prices prolonged their gains, to hit a one-week high on Wednesday as optimism about the global economy and concerns about the impact of sanctions on Russian crude output outweighed a massive, unexpected build in US crude stocks. Brent crude soared by $2.57, or 3.2%, to settle at $82.67 a barrel. U.S. WTI crude increased by $2.29, or 3.1%, to settle at $77.41 a barrel.
read more... 12/01/2023
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Hungary opposes EU sanctions on Russian nuclear sector
Hungary, which is highly dependent on Russian energy, said Monday (26 September) it staunchly opposed European Union sanctions on the Russian nuclear industry, following EU talks on the issue at the weekend.
read more... 28/09/2022
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APPEC Russian oil diversion post-EU sanctions to raise shipping hurdles
Oil markets are bracing for the biggest shift in global trade flows ever as nearly 3 million barrels per day of Russian crude oil and products will have to be diverted to markets outside Europe and advanced economies when European Union sanctions take effect in the coming months, Vitol executives said.
read more... 27/09/2022
Daily (23.08.2022): Gas and power prices are going crazy!
Crude oil prices dropped to end the day almost flat on Monday despite OPEC's warning that it could need to tighten production. The prospect of a nuclear agreement that would allow Iran's oil to be sold again after sanctions dampened the settlement. As such, Brent crude lost 0.3% to settle at $96.48 a barrel, while WTI decreased by 0.5% to $90.77.
read more... 23/08/2022
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Russia's Gazprom warns European gas prices could climb a further 60%
Russian state gas company Gazprom said on Tuesday that European gas prices could spike by 60% to more than $4,000 per 1,000 cubic metres this winter, as the company's own export and production continues to fall amid Western sanctions.
read more... 17/08/2022