energy-market
Top StoriesEU Gives Final Approval to Sanctions Targeting Russian Oil and Sberbank
InvestingRussia’s Novak Warns of Oil Shortage in Europe Due to Import Ban
InvestingOpec+ Brings Forward Oil Output Rises as Biden’s Saudi Visit Looms
InvestingOil Little Changed After Opec+ Agrees to Boost Output
Moscow Calls EU Move to Phase Out Russian Oil ‘self-Destructive’
Date: June 2, 2022
(Reuters) -Russia warned on Thursday that the European Union’s decision to partially phase out Russian oil was likely to destabilise global energy markets, calling it a ‘self-destructive’ step that could backfire on the bloc. EU leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the end of this year,...
Oil Rises as EU to Phase in Russian Oil Ban, Shanghai Ends Lockdown
Date: June 1, 2022
By David Gaffen NEW YORK (Reuters) -Oil prices rose on Wednesday after European Union leaders agreed to a phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai, which could bolster demand in an already tight market. Oil benchmarks have marched steadily higher for several weeks as Russian shipments are squeezed...
Gazprom Cuts Gas Supply to Orsted and Shell Energy
Date: June 1, 2022
(Reuters) – Russian gas producer Gazprom has cut off gas supplies to Denmark’s Orsted and to Shell Energy for its contract to supply gas to Germany, it said on Wednesday, citing the companies’ failure to make payments in roubles. Gazprom has already halted supplies to Dutch gas trader GasTerra, as well as to Bulgaria, Poland...
Bank of Spain Sees EU GDP Hit by up to 4.2% if Russia Imports Banned
Date: May 31, 2022
By Jesús Aguado MADRID (Reuters) – A potential halt of energy imports from Russia would have a negative short-term economic impact of eroding gross domestic product for the European Union as a whole by between 2.5% and 4.2%, Spain’s central bank said on Tuesday. The Bank of Spain said in an analytical report that the...
UK Prices Rise on Cooler, Less Windier Weather
Date: May 30, 2022
LONDON (Reuters) – British wholesale gas prices rose on Monday as cooler and less windier weather raised demand for heating and power consumption, while the European prices rose modestly as concerns over Russian gas disruption are easing. British gas contract for next day delivery rose by 18 pence to 158.00 pence per therm by 0930...
Analysis-How the Ukraine Conflict Is Reshaping Global Oil Markets
Date: May 30, 2022
By Alex Lawler LONDON (Reuters) – Russia’s invasion of Ukraine has reconfigured the global oil market, with African suppliers stepping in to meet European demand and Moscow, stung by Western sanctions, increasingly tapping risky ship-to-ship transfers to get its crude to Asia. The reroutings mark the biggest supply-side shakeup of the global oil trade since...