Berlin has triggered the first stage of an emergency plan for managing gas supplies due to concerns of potential supply disruptions following Russian President Vladimir Putin’s push to make “unfriendly” nations buy gas in rubles. Germany’s emergency gas plan has three levels. The first is the early warning, which is triggered when there are signs…
Germany Triggers Emergency Plan as Putin Wants Gas Paid in Rubles
March 30, 2022
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Europe Aiming to ‘Significantly’ Cut Russian Gas Imports With Washington’s Assistance
March 24, 2022
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The European Union is seeking to scale down its reliance on Russian gas imports while seeking help from the United States, European Commission President Ursula von der Leyen told EU lawmakers on March 23. Stressing that “energy policy is also security policy,” von der Leyen pointed out that the commission has proposed measures that will…
70 Percent of Americans Favor Increase in Domestic Oil, Gas Production: Rasmussen
March 10, 2022
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A vast majority of Americans want the country to be energy independent, according to a recent poll by Rasmussen Reports, indicating increasing frustration with rising fuel costs and the impact it has on everyday expenses. Poll results show 70 percent of likely U.S. voters support a policy of boosting domestic oil and gas production to…
‘Uncomfortable Truth,’ European Union Cannot Cut Off Russian Energy Supplies: Dutch Prime Minister
March 10, 2022
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Mark Rutte, the Dutch Prime Minister, has dismissed the possibility of the European Union (EU) banning energy supplies from Russia in the wake of Moscow’s invasion of Ukraine. “We have to discuss our vulnerabilities in terms of our dependency on Russian oil and Russian gas. I would not plead for cutting off our supply of…
Gas Prices Break Record Again, up 15 Percent in Weekly Growth
March 8, 2022
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The ongoing conflict between Ukraine and Russia has pushed up energy prices worldwide, with gasoline prices in the United States soaring to an all-time high on March 8. Critics have blamed the Biden administration’s insistence on diverting away from fossil fuels, a main contributor to the price hike. The average price of regular unleaded gas…
Oil Could Reach $300 a Barrel, Warns Moscow in Light of New Sanctions
March 8, 2022
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Crude oil prices could reach more than $300 per barrel if the West goes ahead with its plan to sanction Russian energy supplies, Moscow warned in a statement on state television. “It is absolutely clear that a rejection of Russian oil would lead to catastrophic consequences for the global market,” Russian Deputy Prime Minister Alexander…
Traders Betting on $200 per Barrel Oil in March
March 7, 2022
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As the Russia–Ukraine conflict continues to rattle global markets, some traders are betting on crude oil prices going over $200 per barrel this month suggesting relief, in terms of fuel and related costs, is still far off. The prices of call option contracts for higher crude oil prices rose on Monday according to an analysis…
Russian Oil Trade in Disarray Over Sanctions as Prices Blast Through $100/Bbl
LONDON—Russian oil trade was in disarray on Tuesday as producers postponed sales, importers rejected Russian ships and buyers worldwide searched elsewhere for needed crude after a raft of sanctions imposed on Moscow over the war in Ukraine. Numerous nations imposed sweeping sanctions against Russian companies, banks, and individuals following Russia’s invasion of Ukraine last week…
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