LONDON – The average price of a pint of beer in the UK has risen 70% since 2008 – well above inflation – and some Londoners are bidding as much as £8 ($9.70) for 568ml of the amber nectar. According to figures from consultancy CGA, the average cost of a pint has risen from £2.30 … Read more
Coal prices are soaring and global coal consumption is expected to return to record levels nearly 10 years ago as global energy supply tightness continues. As coal stock investors have a field day thanks to high coal prices, curbing carbon emissions is taking a back seat as markets and governments rush to stock up on … Read more
Europe is facing an unprecedented gas crisis. Image Alliance | Image Alliance | Getty Images Europe is facing an unprecedented energy crisis that is pushing the economy closer to recession and posing serious questions about the region’s climate change ambitions. CNBC looks at how Russia, led by President Vladimir Putin, is putting pressure on gas … Read more
A senior Latvian official says a move will have little effect as the Baltic country has already decided to ban Russian gas imports from January. Russian gas producer Gazprom has said it has stopped shipping gas to Latvia after accusing the country of violating delivery terms. Russia has already stopped gas supplies to Poland, Bulgaria, … Read more
Europe has previously received about 45% of its annual gas supplies from Russia. Leonhard Foeger | Reuters Europe’s descent into economic contraction appears to have been confirmed as Russia pressures natural gas supplies to the bloc and heavy industry faces heavy rationing in the coming months. Just days after Europeans breathed a sigh of relief … Read more
Uniper is in talks with the German government about a possible rescue operation. Image Alliance | Image Alliance | Getty Images Germany on Friday agreed to bail out Uniper with a 15 billion euro ($15.24 billion) bailout deal as the controversial energy company becomes the first major victim of Russia’s natural gas scarcity. The rescue … Read more
Russian energy giant Gazprom has said it cannot honor its gas contracts with Europe. Bloomberg | Bloomberg | Getty Images LONDON – The Russian energy giant is threatening to send less gas to Europe – but Germany, one of the main importers, has rejected the idea. Majority state-owned company Gazprom said on Monday that it … Read more
Rising coronavirus cases in China and looming inflation data in the US raise concerns over crude oil demand. Through Julia FanzeresBloomberg Published on July 12, 2022July 12, 2022 Oil collapsed as concerns about a global economic slowdown and increasing Covid-19 cases in China dampened traders’ risk appetite. West Texas Intermediate lost more than 8% to … Read more
The Nord Stream 1 pipeline, through which Russian natural gas has been flowing to Germany since 2011, will be shut down for approximately 10 days for scheduled maintenance. Image Alliance | Image Alliance | Getty Images Europe is bracing for a prolonged halt to Russian gas supplies as maintenance work begins on the Nord Stream … Read more
The Norwegian government said, based on the announced strike figures, it was feared that more than half of the country’s daily gas exports would have been lost by the weekend. Joe Klamar | Afp | Getty Images European gas prices fell from their highest level in four months on Wednesday after the Norwegian government intervened … Read more