Other Commodities
IMF: Middle East countries can look forward to $1.3 billion in oil money
According to the IMF, the energy-rich countries of the Middle East will earn up to $1.3 billion in additional oil revenues over the next four years, a windfall that will add to the firepower of the region's sovereign wealth funds at a time when global asset …
Gas tax will burden German households with several hundred euros more per year
Annual gas bills for German households will rise by several hundred euros as a result of the energy crisis, according to data released on Monday, but the government has promised to cushion the shock to low-income earners. From October 1, importers will be able …
US fossil fuel industry wants to get involved in hydrogen production
In the months leading up to the historic US climate bill, Jim Justice, the billionaire coal magnate and West Virginia governor who believes in divine intervention as a solution to climate change, became a hydrogen advocate. The unlikely advocate of a …
US oil producers resist calls for more oil production
America's biggest oil and gas producers are keeping supply under wraps and defying calls from the Biden administration to increase production, even as soaring fuel prices from the Russian war in Ukraine are fueling hefty profits.
Putin orders transfer of Sakhalin-2 gas project to Russian company
Wladimir Putin hat die Übertragung aller Rechte am Sachalin-2-Erdgasprojekt an ein russisches Unternehmen angeordnet. Dies könnte ausländische Investoren wie Shell, Mitsubishi und Mitsui dazu zwingen, sich von dem Projekt zurückzuziehen.
EU warns of 'regression' on fossil fuels as coal supplants Russian gas
The President of the European Commission has warned EU member states to backtrack on their long-term efforts to cut fossil fuel consumption after Germany, Austria and the Netherlands said they would start up coal-fired power plants after Russia cut gas …
Gasoline prices in the US reach $5 per gallon
The average price of gasoline in the US topped the $5 a gallon mark on Saturday for the first time in history, fueling decades of inflation that has become politically very costly for the Biden administration.
Under pressure from the USA, Opec agrees to increase oil production
Opec and its allies on Thursday agreed to increase oil production in July and August after Saudi Arabia, the cartel's fulcrum, caved in to US pressure to stem the rise in crude prices threatens to bring the global economy to a standstill.
Saudi Arabia ready to deliver more oil
Saudi Arabia has indicated to its western allies that it is ready to increase oil production should Russian production fall significantly under the weight of sanctions, according to five people familiar with the talks. The kingdom has resisted White House …
Habeck: Gas supply stop justifiable
Germany could cope with a ban on Russian gas next winter as long as it fills storage facilities, makes progress on LNG terminals and reduces consumption, Economics Minister Robert Habeck said in an interview with WirtschaftsWoche.