EU wants more US gas and renewable energy to replace Russian supplies
The EU energy commissioner said that the EU will look to other countries, including the U.S., to supply more gas to replace Russian supplies and to expand renewable energy to reduce its reliance on fuel. In response to Moscow's invasion of Ukraine in 2022, the EU has committed to stop using Russian fossil fuels before 2027. Despite a decline in Russian pipeline gas supplies, the EU increased imports of Russian natural gas liquefied last year. Jorgensen stated that Brussels is preparing to change the rules for allowing renewable energy to be built faster.
In the shadow of tariffs, Europe's markets can benefit from a ceasefire in Ukraine
The markets have bet that a ceasefire agreement between Russia and Ukraine will ease the pressure on energy and euro prices, and also reduce the impact of increased U.S. tensions. Meanwhile, expectations about defence spending has already sent stocks in this sector soaring. Marco Rubio, Secretary of State, arrived in Saudi Arabia Monday to discuss with Russian officials. President Donald Trump ordered U.S. officials last week to start talks about ending the war. The talks are not expected to include either Ukraine or European nations. On Monday, European leaders will hold an emergency summit. The U.S.
Lavrov and Rubio discuss removal of 'barriers,' set up by the previous U.S. Administration, Russia claims
In a Saturday phone call, Russian Foreign Minister Sergei Lavrov spoke with U.S. State Secretary Marco Rubio about the situation in Ukraine as well as the "unilateral obstacles" that were set up by the previous U.S. Administration. Peace talks to end the war in Ukraine will begin in the next few days, after U.S. president Donald Trump shocked European Allies when he called Russian President Vladimir Putin and declared an immediate start to talks. The Russian Foreign Ministry said that during the Saturday call, initiated by the U.S., Lavrov, Rubio and their respective presidents agreed to restore "mutually respect interstate dialogue".
Prices of gas in Europe are lower than the first session for a second session. Ukraine Peace prospects dominate
The wholesale gas price in the Netherlands and Britain continued to fall on Thursday, after reaching a two-year peak on Tuesday. Market participants were watching for any further developments regarding the efforts of U.S. president Donald Trump to bring an end to the conflict in Ukraine. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub was lower by 2.85 euros, or $16.21/mmBtu at 1003 GMT. The contract was well below the intra-day peak of 59.27 euro/MWh, reached on Tuesday. This is its highest level since Febuary 2023. The Dutch April contract is down by 2.99 Euros at 52.93 euro/MWh.
Palm oil falls on Dalian crude oil, weakening it
Malaysian palm futures dropped on Thursday, ending a five session rally. Pressured by lower Dalian oil and lower crude oil prices, sparked by the talks to end Ukraine-Russia's war, they were pushed down by weaker Dalian oil. At midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for April delivery fell 63 ringgit or 1.36% to 4,558 Ringgit ($1,023.35) per metric ton. Anilkumar bagani, head of commodity research at Mumbai's Sunvin Group, said that crude palm oil futures fell following a selloff on energy markets, after U.S. president Donald Trump launched diplomatic efforts to end Ukraine's war.
Official: Trump says mineral deal will provide Kyiv with a'security shield after the war'
U.S. Treasury secretary Scott Bessent stated on Wednesday that an minerals deal between Kyiv-Washington would provide Ukraine with a "security shield" after the war. President Volodmyr Zelenskiy also said he hopes to reach a final agreement this week. Bessent is the first cabinet level official from Donald Trump's delegation to visit Kyiv. He spoke after Zelenskiy, who said he would be willing to make a deal that would open Ukraine's minerals to U.S. investors, in a bid to win the U.S. President's support. Trump, who wants to end the war quickly with Russia…
Zelenskiy says 'Let's do a deal', offering Trump mineral partnership, seeking security
In an interview on Friday with, Ukrainian President Volodymyr Zelenskiy pored over a map once classified of vast deposits of rare Earths and other vital minerals. This was part of an effort to appeal to Donald Trump’s love of deals. The U.S. President, whose administration is pushing for a swift end to Ukraine's conflict with Russia, stated on Monday that he wants Ukraine to provide the U.S. rare earths and minerals in exchange for financial support of its war effort. Zelenskiy stated that if we were to discuss a settlement, Ukraine would need security guarantees from allies. Ukraine floated last fall the idea of allowing allies to invest in its vital minerals.
Two Russian sources claim that Saudi Arabia and the UAE are possible locations for a Trump-Putin meeting.
Two Russian sources familiar with the discussions said that Russia is considering Saudi Arabia and the United Arab Emirates as potential venues for a meeting between U.S. president Donald Trump and Russian president Vladimir Putin. Trump said that he would end the conflict in Ukraine as quickly as possible, and that he was ready to meet Putin. Putin congratulated Trump for his election, and said he was ready to meet Trump in order to discuss Ukraine and Energy. Russian officials have denied that they had direct contact with the U.S. regarding preparations for an upcoming phone call between Trump, and Putin. This would be followed by a meeting in late 2018.
Russell: Europe imports more LNG as it draws cargoes out of Asia.
In January, the world's imports will reach their highest level in a single year as Europe's winter demands draw cargoes from Asia's top consumer region. According to commodity analysts Kpler, a total of 38.12 millions metric tons super-chilled gasoline is expected to be imported by January. This represents an increase from the 37.69 in December, and the highest since January 2024, when 38.73 was imported. The volume of LNG imports in January is the third highest ever recorded, highlighting the rapid growth in LNG imports due to the new supply coming online and the desire by Europe to replace Russian pipeline natural gas.
Russell: Europe imports more LNG as it draws cargos from Asia
In January, the world's imports will reach their highest level in a single year as Europe's winter demands draw cargoes from Asia's top consumer region. According to commodity analysts Kpler, a total of 38.12 millions metric tons super-chilled gasoline is expected to be imported by January. This represents an increase from the 37.69 in December, and the highest since January 2024, when 38.73 was imported. The volume of LNG imports in January is the third highest ever recorded, highlighting the rapid growth in LNG imports due to the new supply coming online and the desire by Europe to replace Russian pipeline natural gas.
Oil prices fall as Trump reiterates his call for OPEC price cuts
Oil prices fell on Monday, after U.S. president Trump asked OPEC for a reduction in prices in response to his announcement that he would take a wide range of measures to increase U.S. oil production and gas output during his first week as president. Brent crude futures fell 53 cents or 0.68% to $77.97 per barrel at 0430 GMT, after closing up 21 cents Friday. U.S. West Texas Intermediate Crude was $74.16 per barrel, down by 50 cents or 0.67%. Trump reiterated on Friday his call to the Organization of the Petroleum Exporting Countries (OPEC) to reduce oil prices in order to harm oil-rich Russia and bring an end the war in Ukraine.
Trump calls for OPEC price reductions
The oil prices dropped more than 1% Monday, after U.S. president Trump asked OPEC for a price reduction following his announcement of sweeping measures to increase U.S. gas and oil production in his first weeks in office. Brent crude futures fell 87 cents or 1.11% to $77.63 per barrel at 0043 GMT, after closing up 21 cents Friday. U.S. West Texas Intermediate Crude was $73.77 per barrel, down by 89 cents or 1.19%. Trump reiterated on Friday his call to the Organization of the Petroleum Exporting Countries (OPEC) to reduce oil prices in order to harm oil-rich Russia and bring an end the war in Ukraine.
We learned a lot from the World Economic Forum in Davos in 2025
After a week-long discussion dominated by Donald Trump's return to the U.S. presidency, world leaders and business executives have left Davos in Switzerland. Israel's ceasefires against Hamas, Hezbollah and other terrorist groups sparked real regional peace talk. Friends and enemies agreed that Trump is the only person who can get Israeli Prime Minister Benjamin Netanyahu on board with a Palestinian State. Iran, one Trump's primary targets during his first tenure, chose Davos as the venue to announce that it was willing to renegotiate the nuclear deal and had no intention or ambition to build a bomb.
We learned a lot from the World Economic Forum in Davos in 2025
After a week-long discussion dominated by Donald Trump's return to the U.S. presidency, world leaders and business executives have left Davos in Switzerland. Israel's ceasefires against Hamas, Hezbollah and other terrorist groups sparked real regional peace talk. Friends and enemies agreed that Trump is the only person who can get Israeli Prime Minister Benjamin Netanyahu on board with a Palestinian State. Iran, one Trump's primary targets during his first tenure, chose Davos as the venue to announce that it was willing to renegotiate the nuclear deal and had no intention or ambition to build a bomb.
Ukraine: Trump's threat of sanctions sends a'strong message' to Russia
Ukraine has praised U.S. president Donald Trump for his threat to impose sanctions and tariffs on Russia if they refuse to reach a settlement to end the conflict in Ukraine. They said that the comment was a "strong message". Trump, who repeatedly stated that he wanted to stop the fighting in Ukraine, without specifying how, called on Russian President Vladimir Putin to "stop this absurd war" and warned to impose punitive actions if a deal was not reached. "We really appreciate such strong messages from Trump, and we think that he'll be the winner." And we think that we have a new chance to get a new dynamic in our diplomatic efforts to end the war…
Interfax reports that Gazprom wants to increase the domestic gas price in Russia.
Interfax reported that Gazprom, the Russian gas giant, was trying to increase prices in order to fund investments. The company's sales abroad have plummeted as European buyers are turning away due to the Ukraine conflict. Gazprom suffered losses of nearly $7 billion in 2023. This was its first loss in over 20 years. The decline in gas sales to Europe, which used to be its primary market, is the reason for this. As part of Moscow’s pivot towards the East, the company has now set its sights on increasing gas exports, particularly to China.
Russia's proposed gas pipeline to Iran
The Russian President Vladimir Putin announced on Friday plans to build a pipeline to Iran that will eventually transport up to 55 billion cubic meters (bcms) of gas per year into the West Asian nation. Here are some background details about the cooperation between Iran, Russia and the gas sector. Iran is the second largest gas producer in the world after Russia. However, U.S. sanctions are preventing access to technology as well as slowing down gas exports. In July 2022, the National Iranian Oil Company and Russian energy giant Gazprom agreed to a Memorandum of Understanding worth about $40 billion.
SLB's Russia business aligns itself with US sanctions as revenues drop
SLB, an oilfield services provider, said on Friday that its current business in Russia aligns with the U.S. sanctioned this month but revenue is declining in Russia. After the 2022 invasion of Ukraine, one of only a few Western companies that will remain in Russia is the world's largest oilfield services company. SLB faces pressure to leave Russia following the U.S. Treasury Department's new sanctions on Jan. 10. These included an executive order that cut off Russia’s access to U.S. Services related to the production and extraction of crude oil, and other petroleum products. According to the sanctions, companies have until February 27 to cease operations.
Slovak deputy speaker of parliament arrives in Moscow. TASS reports
The Russian state news agency TASS reported that Andrej Danko, the Deputy Speaker of the Slovak Parliament, arrived in Moscow Sunday. Bratislava is seeking a solution after Ukraine decided to stop Russian gas deliveries to Europe. TASS, as well as the Slovak media agency TASR, reported that Danko's planned visit before the gas conflict will continue through Wednesday. Slovak Premier Robert Fico stated on Friday that Russian President Vladimir Putin had promised that Russia's Gazprom state-owned gas company would find other ways to deliver gas contracted to Slovakia once transit through Ukraine was stopped.
Document shows that ten EU countries have called for sanctions against Russian LNG and gas
A document obtained by revealed that ten European Union nations have asked the 27-nation group to ban the imports of gas from Russia. This comes as Europe is debating new sanctions against Moscow for its war in Ukraine. The EU is currently preparing its 16th set of sanctions against Russia's economic system, in advance of the third anniversary Moscow's invasion of Ukraine on a large scale. This will take place in February 2022. The 10 countries include the Czech Republic as well as Denmark, Estonia, and Finland. They want Europe to do more to target Russia's oil exports to reduce the revenue flowing to Moscow.
