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The immediate supply shock caused by Russia’s invasion of Ukraine was felt in power, petrol and supermarket prices across Europe — and now, as the war enters its fifth month, sanctions and financing restrictions may trigger supply-side changes that could affect natural gas, crude, diesel and grains for years to come. Russia’s commodity exports fell ...
Amid fears that a recession is either already here or on the way, energy stocks and exchange traded funds are retreating.
As production grows, WTI will be increasingly available on the U.S. Gulf Coast to assuage shortages, and will inevitably account for a larger share of the global refinery slate.
Iraqi state oil marketer SOMO is considering signing crude sales contracts with new European buyers, SOMO’s director general said June 22, amid EU plans to ban seaborne oil deliveries from Russia in the wake of the latter’s invasion of Ukraine. SOMO said it has recently received a number of positive replies from European companies that ...
The West’s boycott of Russian barrels will be the oil market’s ultimate test. While it has an impressive record of adapting to unthinkable shifts in trade patterns, from self-imposed embargoes on US exports to sanctions on Iranian and Venezuelan crude, the stakes, and costs, have never been higher. The market is already doing what it ...