Category: Highlights

Hours after Moscow warned there would be retaliation for Helsinki’s announcement that it is applying for NATO membership, Finnish media reports that the Kremlin threatened to cut the country off from Russian gas by Friday. Citing unnamed sources, Finland’s Iltalehti reported the Russian warning to politicians, who refrained from specific comment. Prior to this warning, the local media outlet noted expectations that Finland would be cut off from Russian gas after May 23rd, when its next contract payment with Gazprom comes due and the country refuses to pay in rubles.…

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Italy’s Prime Minister Mario Draghi has suggested after a meeting with U.S. President Joe Biden this week that oil consumers unite to form a cartel with the goal of capping oil prices. Draghi visited the White House on Tuesday to discuss, among other things, the state of the energy market. According to Draghi, both he and President Biden have agreed that the current structure of the energy market isn’t working. Draghi also suggested pressuring OPEC to produce more—an idea that is not only not new, but has been attempted, both…

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As much as 17.5 gigawatts (GWac) of planned US solar capacity installations in 2022 are in doubt after the Department of Commerce (DOC) opened an investigation into panel imports from southeast Asia, Rystad Energy research shows. The US was expected to install 27 GWac of solar energy capacity in the utility, residential, and commercial and industrial (C&I) markets this year, but with rising commodity prices and this new threat of tariffs on vital imports, 64% of those additions are now in jeopardy. The recent launch of an Antidumping and Countervailing (ADCV)…

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Russian gas headed to Europe through Ukraine will stop flowing on Wednesday, Ukraine’s Gas Transmission System Operator (GTSOU) said on Tuesday. The flows will stop at 7 a.m. local time after Russia’s occupying forces disrupted gas transit operations in the area. According to the operator, Ukraine will no longer be able to accept gas transit from Russia via Sokhranivka. The move has the potential to disrupt supplies to Europe if an alternative path isn’t found. Ukraine has voiced its criticism of Europe’s reliance on Russian gas since Russia invaded, with…

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Crude oil prices remain exceptionally volatile on Tuesday, with WTI fluctuating between sub-$100 and nearly $104 per barrel after sinking from more than $110 on Monday as bearish and bullish factors push and pull crude benchmarks. Monday saw crude oil prices drop sharply as China lockdowns and Saudi Arabia’s crude oil price cutting contributed to worries about a possible slump in crude oil demand in the world’s top crude importer. But oil prices seesawed on Tuesday as the EU continued to try to reach a consensus on a Russian crude…

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