Will Africa become Europe’s gas station?
While some producers may benefit from Europe’s scramble for non-Russian oil and gas, the reality is unlikely to match the hype
oil prices
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Oil jumps as EU mulls Russian ban
EU governments will consider whether to impose an oil embargo on Russia
Azerbaijan protected from external economic pressures
Azerbaijan is protected from the external economic pressures due to the events in Ukraine, according to Moody’s Investors Service (Moody’s). Moody's expect current account balances to deteriorate for most …
Russian oil sales suffer minimal interruption so far
Even though many Western clients are proclaiming their intention to shun Russian barrels, the oil is still flowing from export channels
Brent drops below $100/bbl on ICE
Brent oil futures with delivery in May 2022 lost 7.69% to $98.68 per barrel, according to data of the London-based ICE. Brent prices were below $100 per barrel last time on March 1. WTI oil prices tumbled 8.59% to $92.49 per …
Crude will soon crash
Crude oil prices continue to scream higher and have recently touched their highest level since the Global Financial Crisis. Many pundits are predicting crude oil prices will continue to climb and could easily break the peak set back in …
Growing fuel prices intensify popular discord
With Turkey’s consumer inflation already at 54.4%, price increases on fuel alone threaten to add two percentage points to the monthly inflation rate in March. A seemingly endless stream of fuel price hikes has sparked a nationwide outcry in Turkey, where the surge in global energy prices has been amplified by the depreciation of the Turkish lira
UAE sows confusion in oil market as it faces lower Russian supply
The Gulf state would not act on its own to raise production and remained committed to OPEC+ policy
Oil prices gain on possibility of OPEC filling Russian supply shortfall
Oil prices rebounded on Thursday following a sharp drop late on Wednesday as the market weighs expectations of OPEC producers boosting production to fill the shortfall in Russian supplies. International benchmark Brent crude was trading …
Russia to deprive U.S. of Russian oil?
U.S. President Joe Biden announced a ban on Russian oil and other energy imports. The latest sanctions are likely to push up oil prices - resulting in even higher prices at the pump. Brent crude was up $1.68, or 1.3%, at $129.66 a …
Oil prices gain after U.S. move to ban Russian oil
Oil prices extended gains on Wednesday after the US announcement of an embargo on Russian energy imports, and the UK’s plan to phase out Russian gas supplies. International benchmark Brent crude was trading at $131.12 per barrel …
Turkey expects oil prices to grow after western anti-Russian sanctions
Turkey expects oil prices to grow after western anti-Russian sanctions are imposed due to the Ukrainian crisis, Turkish Deputy Minister of Energy and Natural Resources Alparslan Bayraktar said. "This is a simple math – …
S&P forecasts worst oil supply disruption in history
The executive director of the analytical agency S&P Global, Aaron Brady, predicted severe disruptions in the oil supply to the world market. According to him, this may happen due to the events in Ukraine and sanctions against the …
UK to refuse oil from Russia
UK Energy Minister Kwazi Kwarteng said the country will stop importing Russian oil by the end of 2022. "The transition will give the market, companies and suppliers more than enough time to replace Russian imports, which accounts …
Russia warns West of $300 per barrel oil
Western countries could face oil prices of over $300 per barrel and the possible closure of the main Russia-Germany gas pipeline if governments follow through on threats to cut energy supplies from Russia, Russian Deputy Prime Minister …
Chinese pays for Russian oil with cash transfers
as banks shy away from financing the oil because of sanctions
Brent oil reaches $119 per barrel for first time in 10 years
The price of a futures contract for Brent crude oil with May delivery on London’s ICE increased by 5.64% to $119.3 per barrel. As of 10:40 Moscow time, the price of Brent exceeded $119 per barrel and grew to $119.15 per barrel …
Brent oil price on ICE reaches $116
The price of futures contracts of Brent crude oil for May 2022 delivery gained 3.37% on London's ICE on Thursday, reaching $116.74 per barrel, according to trading data as of 05:49 am Moscow time. As of 05:54 am, the price of Brent …
Oil prices and dollar rate hit highest levels
The price of Brent crude oil futures contract with May delivery on London’s ICE exchange rose by 7.67% to $113.02 per barrel on Wednesday. As of 11:03 Moscow time, the price of Brent slowed down to $111.46 per barrel (+6.21%). The …
Brent oil exceeds $111 per barrel for first time since July 2014
The price for May 2022 futures contracts for Brent oil increased 5.83% on London’s ICE, to $111.09 per barrel as of 05:46 Moscow time on Wednesday. As of 05:52 Moscow time, the growth slowed down to 5.77%, to $111.03 per …
