Europe News
Energy prices set to rise as last Gulf Tankers reach Europe
Energy analysts have warned of surging energy prices beyond already elevated levels, as the last vessels carrying oil and natural gas from the Strait of Hormuz before the conflict have reached Europe. Supply forecasts for oil and gas remain optimistic as US deliveries are expected.
Europe News
Can Péter Magyar break Hungary’s reliance on Russian oil?
Péter Magyar, the expected future Hungarian prime minister, won the general election in a landslide, unseating outgoing Viktor Orbán after 16 years in power and raising questions about whether Budapest will move away from Russian energy.
Europe News
EU considering excessive profit taxes on oil and gas companies
The European Commission is considering taxing windfall profits, similar to the mechanism applied in 2022 during the natural gas crisis. The plea came from five EU countries, which also called for the tax to be expanded to foreign profits dealing with fossil fuels.
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Europe News
What impact could an Iran ceasefire have on energy prices?
The announcement of a two-week ceasefire in the Middle East has triggered an immediate drop in oil and natural gas prices, raising hopes for lower energy bills. However, consumers might not see the effects for several months, even though the oil industry has issued some optimistic forecasts.
World
Vast gas reserves: can fracking make Germany energy independent?
In 2024, 67 per cent of the energy used in Germany had to be imported, according to the Federal Statistical Office. This puts Germany above the EU average of 57 per cent of imported energy. According to experts, Germany could produce domestic gas.
