The US Commerce Secretary has announced that the US will temporarily lift tariffs imposed on Ukraine during the Trump administration to help Ukraine recover its economy and continue to show support for the Russia-Ukraine situation. "For steel mills t…
The Biden administration plans to ease sanctions on Venezuelan oil to allow more of the country's crude to reach Europe. The U.S. will allow European companies still operating in Venezuela to immediately transfer more oil to the continent, while all…
The biggest immediate challenge for the EU will be replenishing its depleted gas inventories. While the EU could still increase LNG imports from countries such as the US, such purchases would be more expensive.Refilling natural gas storage space to h…
Oil futures tumbled more than $5 a barrel on news that the Biden administration is considering releasing about 1 million barrels a day from the U.S. Strategic Petroleum Reserve (SPR) for several months to cool surging crude prices.Brent crude futures…