Russia Says Global Oil Embargo Could Push Prices Over $300

With the US reportedly said to vote as soon as Tuesday on a proposal to ditch trade relations with Russia and Belarus, including suspending oil imports despite repeated objections from Germany which has stated that a collapse in supply threatens “social cohesion”, Russian Deputy PM Novak said that a ban on Russian oil would result […]

U.S., Allies Discussing Oil Embargo

The International Atomic Energy Agency said it’s having trouble getting through to staff operating the Zaporizhzhia nuclear power plant, which is now under the control of Russian forces. Russian President Vladimir Putin told his Turkish counterpart that Ukraine must agree to his demands in order for fighting to end, lowering hopes for progress at a […]

Nuclear fusion is one step closer with new AI breakthrough

The green energy revolution promised by nuclear fusion is now a step closer, thanks to the first successful use of a cutting-edge artificial intelligence system to shape the superheated hydrogen plasmas inside a fusion reactor. The successful trial indicates that the use of AI could be a breakthrough in the long-running search for electricity generated […]

How Does This End?

Wars sometimes start easily, but it is a tenet of strategy that they are always unpredictable and extremely hard to end. Putin’s war of choice in Ukraine is already escalating faster than most experts would have imagined just a week ago. He has now encircled major Ukrainian cities with his army and threatens to flatten […]

Global food supply at risk from Russian invasion of Ukraine

Russia’s invasion of Ukraine threatens global food supplies, Norwegian fertiliser maker Yara International said on Tuesday, adding that the international community needed to reduce its dependence on Russian raw materials for agriculture. Ukraine and Russia are both major exporters of some of the world’s most basic foodstuffs, together accounting for about 29% of global wheat […]

TINA to the US dollar as the reserve currency

Crude oil’s price surge has historically been associated with recessions Nothing works better than a historical chart to illustrate my point here. A 47% price surge in Brent and a 48% increase in WTI this year alone will become a substantial drag on the US and global economy this year. Have a look at this […]

Operator of Nord Stream 2 denies it filed for bankruptcy

The Swiss-based company behind the Nord Stream 2 pipeline denied on Wednesday that it filed for bankruptcy but confirmed it terminated employee contracts. Why it matters: Long viewed as a Kremlin influence project that would increase Europe’s energy dependence on Russia, Nord Stream 2 was one of the first targets of the flurry of Western […]

China’s purchase of Iranian oil more than before sanctions

Chinese imports exceeded 700,000 barrels per day (bpd) for January, according to estimates of three tanker trackers, surpassing the 623,000 bpd peak recorded by Chinese customs in 2017 before former U.S. President Donald Trump reimposed sanctions in 2018 on Iranian oil exports. One tracker estimated imports amounted to 780,000 bpd in November-December on average. The […]

Oil rockets to $113, gas hits record on Ukraine conflict

Oil prices soared Wednesday above $113 per barrel and natural gas spiked to a record peak, as investors fretted over key producer Russia’s intensifying assault on Ukraine. European benchmark Brent North Sea oil struck $113.02 per barrel, the highest level since 2014, while New York-traded WTI hit a 2013 peak at $111.50. Later Wednesday, traders […]

Russia reveals number of troops killed and injured in Ukraine

Nearly 500 of the country’s soldiers have died amid the ongoing offensive, the Russian Defense Ministry has revealed Some 498 Russian servicemen have been killed and nearly 1,600 wounded during the ongoing assault on Ukraine, Russia’s military claimed on Wednesday. The Defense Ministry refuted reports that there have been “countless” casualties, branding the claims as deliberate disinformation […]

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