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Ukraine

Ukraine knocks out nearly one-fifth of Russia's oil refining capacity

Ukraine has significantly intensified its attacks against Russia's energy sector over the past few weeks, managing to disrupt oil refining capacity, weakening Moscow’s war economy.

Europe News

Hungary and Slovakia in spat with Ukraine after oil pipeline bombing

In a comment on Sunday, Zelenskyy indicated that the future of the pipeline could depend on Hungary's behaviour. Budapest said Kyiv harms its sovereignty, and Slovakia warned Ukraine might be left without fuel, if the attacks continue.

Markets

Oil prices rise on EU-US trade deal and Trump comments on Ukraine

US President Donald Trump said on Monday he was reducing a 50-day deadline given to Vladimir Putin to agree a deal with Ukraine. Oil prices had already risen on news of a EU-US trade deal.

Europe News

What could biggest oil discovery in Poland's history mean for Europe?

Euronews asked analysts if the huge oil and gas deposits discovered under the Baltic Sea offer Europe a chance to be less reliant on Russian energy.

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Egypt

Four dead after oil drilling ship capsizes in Egypt’s Gulf of Suez

The incident occurred on Tuesday off Ras Ghareb, a key oil site on the African side of the Red Sea, as the ship was being towed for excavation work, authorities said.

Economy

What would happen if the Strait of Hormuz were closed?

This narrow shipping route in the Gulf region sees one-fifth of global oil and liquefied natural gas (LNG) passing through, fuelling a big part of the global economy. And Iran controls its northern side.

Economy

Eurozone business activity stalls in June: Will the ECB cut again?

Eurozone business activity stalled in June, with PMI data showing flat growth linked to weak services and manufacturing. Germany improved slightly, while France declined. Persistent service-sector cost pressures and renewed energy concerns may cloud ECB rate cut prospects.

Europe News

Hungary and Slovakia resist EU’s energy security plan

During a discussion among the 27 EU member states on reducing the Union’s dependency on Russian fuel, Hungary and Slovakia opposed the roadmap proposed by the Polish Presidency of the Council of the EU.

Markets

European stock markets opened higher despite Israel-Iran conflict

The major European stock indexes opened slightly higher while oil prices stayed elevated due to the uncertainty around the Israel-Iran crisis.

Economy

Israel-Iran crisis: How vital is the Strait of Hormuz for oil market?

Tensions between Israel and Iran have raised fears of disruption in the Strait of Hormuz, a vital route for global oil and LNG. Experts warn that even the threat of closure could rattle markets and push energy prices sharply higher.

Markets

Israel launches major strike on Iran: What is the market fallout?

European stocks fell sharply after Israel struck Iranian nuclear sites, fuelling fears of wider conflict. Oil and gold surged on safe-haven demand, while bank shares dropped. Markets are pricing in higher geopolitical and energy supply risks.

Markets

Oil prices falls as OPEC+ considers output hike before US-Iran talks

Crude oil prices extended their losses following reports that OPEC+ is considering a further production increase in July, ahead of US-Iran nuclear talks later today. Oil markets remain caught between escalating geopolitical tensions and persistent concerns over a potential oversupply.

Markets

Oil prices plunge to multi-year low as OPEC+ plans output acceleration

Crude oil prices fell to a multi-year low on Monday as OPEC+ confirmed plans to continue unwinding production cuts, accelerating output increases in June. The move is expected to exacerbate a market surplus amid weakening demand driven by escalating US-China trade tensions.

Markets

US markets edge slightly higher as Trump's tariff volatility eases

Wall Street teetered toward small gains in relatively calm trading Tuesday morning after President Donald Trump appeared to let up on some of his tariffs and stress from within the US bond market eased.

Markets

European stocks spiral after China hits back against Trump’s tariffs

Concerns about an escalating trade war between the US and China still remain after the latter retaliated against steep US tariffs.

Business

Shell cuts gas production outlook due to maintenance and bad weather

The oil and gas company reduced its expectations for natural gas and liquefied natural gas (LNG) volumes for the first quarter of this year.

Markets

Oil markets retreat as economic concerns outweigh Trump tariff threats

Crude oil prices climbed on Monday amid US President Donald Trump’s threats to impose 25% to 50% tariffs on Russia’s oil. However, economic concerns may outweigh geopolitical tensions, as a weakening economic outlook could dampen oil demand. Investors will also be closely watching the OPEC+ meeting.

Markets

European markets mixed as investor sentiment remains uncertain

Euronews Business takes a look at how European and global markets are performing on Tuesday, amid escalating global tariff tensions.

Saudi Arabia

From oil wealth to major player: How Riyadh become a global mediator

As Riyadh prepares to host US-Ukraine talks on how to end Russia's war, analysts tell Euronews how Saudi Arabia became a diplomatic heavyweight.

Markets

Crude oil prices fall to a year-low as US-China trade war intensifies

Crude oil prices slumped to their lowest level this year amid concerns of weakening demands after China announced a retaliatory tariff on US crude oil imports, while the US stockpiles rose for the second consecutive week.

6 February 2025