Norway's Prime Minister says Europe shouldn't cap gas prices
The Norwegian prime minister said that Europe should not cap the price of natural gas, even though costs are rising due to the conflict in the Middle East. The benchmark TTF front-month gas contract on the continent has increased by around 60% since the U.S. and Israeli war against Iran, as well as the attacks of?Tehran on ships in Strait of Hormuz. On Wednesday, Ursula von der Leyen, President of the European Commission, said that the European Union is considering measures to reduce energy prices.
Gas shortage worries in India spark panic buying for Induction stoves
Indians are buying electric induction cookers at a rapid rate, causing stocks to be depleted online and in stores. This is due to fears that there could be a shortage of cooking gas linked?to the Middle East conflict. India, which is the second largest importer of LPG in the world, has invoked emergency powers in order to 'boost supply for household users, even though availability is tightening? for commercial users such as canteens, hotels and restaurants.
Helium prices rise as Qatar LNG shutdown exposes fragile supply chains
The Iran war has caused disruptions in Qatar's natural-gas processing, which have pushed helium prices up sharply. This exposes the fragility of this small but important market that supports industries ranging from semiconductors to imaging. According to Phil Kornbluth of Kornbluth Helium Consulting's president, the spot price for helium has?doubled in recent months as buyers scrambled to secure supplies. QatarEnergy - the…
Minister: Czechs discuss 1.5 billion cubic meters of LNG with US
Hospodarske Noviny reported that the Czech Republic was 'in talks' with the United States for the supply of 1.5 billion cubic metres of liquefied natural gas. Since the Russian invasion of Ukraine, in '2022, the Czech Republic, like other countries in Central and Eastern Europe has diversified its energy sources. S&P Global reports that this has helped to cushion the impact of the Middle East war. Czech Industry Minister Karel Havlicek has been quoted as saying he met with U.S. Commerce Sec.
Iranian strikes burn oil tankers, despite Trump's claims to have won war
Two oil tankers caught fire in an Iraqi harbor on Thursday, after being hit by a boat suspected to be laden with explosives. This was a new attack that has cut off Middle East oil and defied Donald Trump’s claim of having?won' the war launched two weeks earlier. Images that were verified as having "been filmed" from the shores of Basra port showed massive orange fireballs lighting up the night skies, following the attacks Iraqi authorities had blamed on Iranian vessels. One crew member died.
Prices for EUROPE GAS rise due to concerns about LNG supply and oil strength
LONDON, 12th March - British and Dutch gas wholesale prices rose Thursday morning, as reports of tanker attacks raised fears of a prolonged disruption of regional liquefied gas supplies from the region. Meanwhile, higher oil prices added further support. ICE data shows that the benchmark Dutch front-month contract was 52.40 euros per Megawatt Hour (MWh), or about $17.73/mmBtu at 0848 GMT. This is an increase of 2.41 euros.
Maurel & Prom, a French oil company, has seen its 2025 profits slump due to lower crude prices
Maurel & Prom, a French oil company, reported a 32% decline in profit for 2025 on Thursday. The drop was due to lower crude prices and a weak global demand. The shares of the?company traded 0.5% higher at 0815 GMT, after a drop of 1.9% in early trading. In 2025, earnings?before interest taxes depreciation amortization and amortization? (EBITDA?) fell to $249 millions while sales dropped by 29%?to $578 from $808 millions a year earlier. Crude oil prices dropped 18.07% to $62.70 a barrel by the 'end of 2025.
RWE's US expansion plan of $20 billion includes gas-fired power stations
RWE, Germany’s largest power producer, announced on Thursday that it would invest in new gas-fired plants to expand more aggressively in the United States, a market where data centres are a major factor in power demand. The move is a major push from Germany's largest utility into a market where rapid construction of data centers,?as?well as the need for modernising ageing power infrastructure, has fueled a boom in the generation assets and network equipment.
EU considers gas price cap as a way to control rising energy costs
The European Union is considering measures to?reduce energy prices. This includes capping gas price, said European Commission President Ursula von der Leyen on Wednesday. Before the Iran War caused oil and gas to surge, Brussels was drafting proposals for industries who claim that high energy costs make it impossible to compete with their rivals in China or the United States. The EU's electric system is set up so that the price of electricity is determined by the last power station needed to meet the total demand.
Patterson-UTI, an oilfield services firm, says that higher oil prices won't spur more US production.
Andy Hendricks, CEO at?oilfield service company 'Patterson-UTI', stated on Tuesday that a surge in energy costs caused by the war between the United States and Israel with Iran would not lead to an increase in U.S. production of oil without the necessary market predictability. Since the end of Feburary, oil prices have been fluctuating wildly after Iran closed the Strait of Hormuz - a major trade route - forcing major Middle East producers to reduce production. U.S.
Repsol, a Spanish company, may attract new investors to the US renewables unit
Josu Imaz, CEO of Spanish energy company Repsol, said that the group is reviewing its approach to renewable power generation and may welcome new investors. Repsol, as part of a larger strategy to transition from a traditional oil and gas company into a multi-energy provider, has been building up a portfolio since 2018. It has also invested in the production and distribution of 'green hydrogen', a low-carbon fuel. Along with Spain, the United States is a major market for its?division of low-carbon energy.
Zambia seeks global investors to triple copper production by 2031
Zambia is wooing investors from around the world, including those in the United States. It aims to triple its copper production to 3 million tons by 2031. Washington wants to work with the second largest copper producer in Africa, Africa's Democratic Republic of Congo. The United States is intensifying efforts to loosen China’s grip on critical materials for advanced manufacturing. Zambia missed its annual target of 1,000,000 tons by a mere?890.346 tons.
Qatar is looking to strengthen its security partnership with the US following Iran's attacks
Qatar wants to strengthen its defense partnership with the United States after Iranian air strikes on Qatari territory, said the spokesperson for the Foreign Ministry on Tuesday. Qatar also sees the current deal as a deterrent. Iran launched drone and missile attacks on its oil producing Gulf neighbours following U.S./Israeli strikes which killed the top leaders of Iran. The conflict disrupted oil production in the region, sending oil prices soaring. Qatar is home to 'the largest U.S. military base in the Middle East.
G7 and EU discuss energy prices and strategic reserves
Officials said that the G7 energy minsters will discuss the soaring prices of energy due to the war in Iran during a Tuesday call. A group of European Union Leaders will also do the same later in the day. On Monday, oil?prices soared to $119 per barrel, their?highest level in nearly four years. This was due to fears that Gulf production would be cut and tanker exports disrupted. The European Union is worried about a possible repeat of the energy crises they experienced in 2022.
G7 and EU will hold a call on the soaring prices of energy
Officials have confirmed that the G7 energy ministers are scheduled to discuss the rising energy prices due to the war with Iran on a phone call Tuesday. A group of leaders from the European Union will do the same later in the day. Fears of Gulf production cuts and disruptions to tanker traffic pushed oil prices up to their highest level since mid-2022. The G7 Finance Ministers stated on Monday that they are prepared to take "necessary steps" to combat the price surge…
Sources say that Bangladesh has secured diesel supplies amid major disruptions in energy supply
After the U.S. - Israel war 'on 'Iran, which disrupted shipments to garments and other industries, Bangladesh began receiving diesel from suppliers such as?China, India, officials said. The country has enough fuel for about a?month worth of demand. As the Middle East oil trade is severely disrupted by the war against Iran, South Asia, a nation of approximately 175 million people that relies heavily on imported energy, has implemented fuel rationing, restricted diesel sales, and closed its universities.
EUROPE GAS - European prices fall in line with crude oil as Middle East hopes for de-escalation are raised
Dutch and British wholesale gasoline prices fell from their 3-year highs in the morning of?Tuesday, mirroring oil market movements after?U.S. Donald Trump claimed that the Middle East conflict would end "soon". Data from Intercontinental Exchange (ICE), showed that the benchmark Dutch front-month contract at the TTF hub had fallen by?7.98 euros to 48.47 euros per megawatt hour(MWh) as of 0852 GMT. The intraday peak was 69.50 euro/MWh, which is the highest since January 2023.
Indian restaurants are warning of closures due to the shortage of cooking gas as a result of the Iran war
The Iran war has caused a shortage of cooking gas in India, and restaurants and hotels have warned that they may be forced to close their doors. Authorities have set up a committee to review the requests of industry. Fuel shortages are a result of the U.S. and Israel war against Iran, which has stopped ship traffic on the Gulf of Mexico and Strait of Hormuz. This has led to higher energy and transport prices, and impacted the exports and production of Gulf producers such as Qatar and Saudi Arabia.
Thailand orders bureaucrats in its energy-saving drive to use stairs instead of elevators and to work from home
A government spokesperson said that the Thai Prime Minister Anutin Charnvirakul had ordered civil servants to conserve energy due to the energy crisis caused by the Middle East conflict. This included suspending overseas trips and using the stairs instead of elevators. Lalida Periswiwatana, a spokesperson for the prime minister, told reporters that civil servants must now work from home. However, officials who serve the public will be exempted.
Bloomberg News reports that oil magnate Sargeant's firm loaded 1 million barrels of oil for China.
North?American Blue Energy is a company that has been backed by the United States. Harry Sargeant III is a renowned energy magnate who has made a decision to export?1,000,000 barrels of?Venezuelan oil for delivery into China. Bloomberg News reported this on Monday, citing an official document. Reports?stated that this may be the first shipment of Venezuelan oil delivered to Asia since the US took control of the nation's oil exports earlier this year. U.S.