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News & Articles By Belle Carter
06/21/2022
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By Belle Carter
European gas prices shoot up as Russia reduces supply to top buyers across the EU
The European prices of natural gas further rose as Russia cut shipments to top buyers in Germany, Italy and France. The June 20 data from Intercontinental Exchange, a company that operates global financial exchanges, shows that the European benchmark for natural gas, the Dutch TTF front-month gas futures contracts, rose about 4.2 percent to 122.7 euros […]
06/15/2022
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By Belle Carter
Texas electricity use surpasses all-time record amid scorching heat… but the grid is holding together for now
While Texas is experiencing excessive and baking heat wave, the state’s electricity usage shot up to an all-time high. The latest power use has topped levels last seen before the Wuhan coronavirus (COVID-19) pandemic. The Electric Reliability Council of Texas (ERCOT), the organization that operates the state’s electrical grid – the Texas Interconnection, announced that the demand on […]
06/14/2022
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By Belle Carter
National average price of gas hits record high of $5 per gallon
Fuel analyst GasBuddy, a tech company that operates apps and websites that find real-time fuel prices, announced June 9 that the average price for a gallon of regular gasoline reached $5. The firm tweeted that it is the highest ever recorded U.S.-wide gas prices. “Gas prices have surged in recent weeks as U.S. gasoline inventories have […]
06/08/2022
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By Belle Carter
Saudi Arabia hikes oil prices as Asia eases COVID-19 restrictions
The Kingdom of Saudi Arabia (KSA) has raised oil prices more than expected for its largest market in Asia as the region eases out of Wuhan coronavirus (COVID-19) restrictions. Bloomberg reported that the increase for July shipments resumes a series of hikes that started in February. Aramco increased its key Arab Light crude grade for Asian customers […]
06/03/2022
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By Belle Carter
OIL LAUNDERING: India imports Russian oil at a discounted price, refines it and sells to the West for massive profits
Since Europe imposed sanctions cutting the Russian crude supply, shippers and refiners are getting the oil to market by obscuring its origins. While United States and Europe are currently facing hikes in the prices of oil and commodities due to the sanctions placed, India is buying up the sanctioned Russian oil at a discounted price of […]
06/03/2022
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By Belle Carter
Gazprom cuts off gas supply to several EU members in response to sanction threats
Gazprom has cut off gas supply to Denmark’s Orsted, as well as to Shell Energy for its contract to supply gas to Germany. The Russian gas producer announced the move Wednesday, June 1, citing the companies’ failure to make payments in rubles. It was an obvious response to recent statements by European Union (EU) leaders that they […]
06/01/2022
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By Belle Carter
Whitehall document: UK winter blackouts imminent once Kremlin cuts off all gas supplies
About six million households in the United Kingdom could experience blackouts this winter if Kremlin cuts off gas supplies to Europe. The Times news website cited a Whitehall document that said imports of natural gas from Norway could be cut in half next winter amid surging European Union (EU) demand. The U.K. takes around half […]
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