Tag Archives: Bloomberg News Agency

The upheaval in oil and gas markets triggered by Russia’s invasion of Ukraine could accelerate the world’s transition away from fossil fuels, said the International Energy Agency. Western nations are looking for ways to quickly wean themselves off Russian energy exports. The U.K. and the U.S already announced bans on …

German Finance Minister Christian Lindner remains opposed to a boycott of Russian oil and gas, even with leading members of his Free Democratic Party saying restrictions should be imposed to punish Russia for its invasion of Ukraine, the Tagesspiegel newspaper reported on Sunday. “Our concern must be to build up …

European utilities are getting increasingly reliant on coal for power as the region tries to reduce its dependence on Russian natural gas. Even with prices for the dirtiest fossil fuel surging with most other commodities, it’s still much cheaper for power plants to burn coal than gas to make electricity. …

Goldman Sachs Group Inc.’s economists warned the probability of a U.S. recession in the next year may be as much as 35% as they cut their forecasts for growth due to the hit from soaring oil prices and other fallout from the war in Ukraine. Economists led by Jan Hatzius …

European natural gas soared to a fresh record as the U.S. said it was considering curbs on imports of Russian oil, a move that would add to supply fears across all energy markets. Dutch front-month gas, the European benchmark, jumped as much as 17% to an unprecedented 225 euros a …

The U.S. and its European allies are discussing a possible ban of Russian oil imports to tighten the economic squeeze on President Vladimir Putin over the war in Ukraine, Secretary of State Antony Blinken said. President Joe Biden’s administration, wary of pushing up energy prices for Americans, faced further pressure …

For years, the U.S. warned Germany of building up a dangerous energy dependence on Russia, the source of more than half of its fossil fuel imports. Now that the war in Ukraine has shocked Berlin into the same conclusion, the government is finding that changing course might be too late. …

The European Union is capable of going through next winter without imports of Russian natural gas while avoiding serious damage to its economy, according to a new report by Belgium-based think tank Bruegel. The 27-nation bloc would need to curtail its demand by at least 10%-15% should Russia halt imports …

OPEC+ is widely expected to continue raising its overall production quota by 400,000 barrels per day (bpd) per the plan from last summer, despite the surging oil prices over the Russian invasion of Ukraine, a Bloomberg survey of 18 analysts and traders showed on Tuesday. The OPEC+ group—led by Saudi …

European natural gas prices surged as another round of sanctions on Russia over the weekend fueled concerned about energy shortages. Futures traded in the Netherlands jumped as much as 36% on Monday. Western nations agreed to impose new sanctions to further isolate Russia’s economy and financial system after initial penalties …