Tag: Oil

President Biden and European Commission President Ursula von der Leyen discuss reducing Europe's 40% reliance on Russian gas, driven by the Ukraine conflict. The deal aims to swiftly cut economic ties with Moscow and reshape energy dynamics in response to the ongoing war.

Russian President Vladimir Putin announced Russia will require countries it considers unfriendly to pay for natural gas exports exclusively in rubles, criticizing Western nations for freezing Russian assets and undermining currency trust.

British inflation surged to 6.2% in February, the highest since 1992, with household energy bills rising almost 25% and food prices increasing across the board. The Office for National Statistics reports the unexpected spike, putting pressure on Finance Minister Rishi Sunak to address the economic squeeze.

High energy costs are triggering widespread unrest across Europe. Spain has deployed over 23,000 police to manage protests, while farmers in France and Greece block highways. Russia's war in Ukraine has exacerbated the situation, driving record inflation and making fuel and essential supplies significantly more expensive.

Amid Russia's war in Ukraine, European countries face mounting energy costs, triggering widespread protests. Spain deployed over 23,000 police to manage trucker strikes, while French and Greek farmers block highways, highlighting the economic strain of high fuel prices and inflation.

Asian stocks fell on Tuesday as COVID-19 cases in China and ongoing Ukraine war concerns weighed on markets. MSCI's Asia-Pacific index dropped 1.97%, with Chinese stocks leading losses, reflecting broader economic uncertainties and potential demand disruptions.