Oil Prices Will Be 20% Lower Than Expected Due to Russian Supplies: ING
Russian oil production was expected to tumble this year, but the country has had little problem rerouting its supplies towards India and China.
Source: businessinsider.com
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European Power Prices Hit a Record for 5th Day As Energy Crisis Bites
Russia has slashed the flow of natural gas to Europe, and now governments there are worried that other sources of energy could fail to deliver.
Source: businessinsider.com
Germany Must Cut Gas Use by 20% to Avoid Winter Crunch, Regulator Says
Germany may have to rely on European gas supplies this winter ahead of winter, Klaus Müller, head of the federal network agency told the FT.
Source: businessinsider.com
Expect Steep Drops in Oil Prices As Crude Falls Below $90: Citi
"This is something that needs to concern companies while it is something very pleasant for consumers," Citi strategist Ed Morse said.
Source: businessinsider.com
Europe's Natural Gas Crisis Is Going From 'Bad' to 'Ugly' BofA Says
Natural gas prices are likely to increase further on the spot and futures market, the bank said, as Russia chokes off Europe's energy supply.
Source: businessinsider.com