Reuters Ukraine has signed a deal for the U.S. nuclear power company Westinghouse to supply fuel to all of its atomic power stations in an effort to end the country’s reliance on Russian supplies, Ukraine’s state nuclear company said on Friday. The agreement also increases the number of new nuclear units Westinghouse will build to nine from an earlier five, and
CNBC European Union leaders reached an agreement this week to ban the majority of Russian crude oil and petroleum product imports, but nations were already shunning the country’s oil, altering global flows for the commodity that powers the world. Russian oil exports had already been hurt by some EU members acting preemptively in anticipation of potential measures, in addition to bans from
CNBC The chief executive of Ukrainian state energy giant Naftogaz says oil producer group OPEC is on the wrong side of history in choosing to stick with Russia to stabilize energy markets. Speaking to CNBC’s Hadley Gamble at the World Economic Forum in Davos on Monday, Naftogaz CEO Yuriy Vitrenko warned the Middle East-dominated group of exporting countries to recognize
CNBC Oil prices jumped even higher on Monday after Russia-Ukraine talks appeared to yield no sign of progress, and markets continued to fret over tight supply — sparking a call by the International Energy Agency to reduce oil demand. Crude futures were up more than 3% on Monday morning during Asia trading — international benchmark Brent crude was at $111.46,
CNBC Oil prices surged Tuesday, with U.S. crude hitting its highest level since June 2014 as Russia bears down on Ukraine’s capital. Prices first topped the $100 mark last Thursday when Russia invaded Ukraine, prompting fears of supply disruptions from key exporter Russia, in what is already a very tight market. West Texas Intermediate crude futures, the U.S. oil benchmark,
CNBC Russian forces on Thursday launched their long-feared attack on Ukraine, sending shockwaves through financial markets and ratcheting up fears about the ramifications for gas supplies around the world. Russian President Vladimir Putin cast aside international condemnation and the first tranche of sanctions by declaring the beginning of a “special military operation” aimed at the “demilitarization” of Ukraine. Russian forces have reportedly fired missiles
CNBC Oil prices on Thursday jumped following Russia’s invasion of Ukraine, with international benchmark Brent crude surpassing $100 a barrel for the first time since 2014. The attack is expected to have far-reaching implications for energy markets given Russia’s role as the world’s second-largest producer of natural gas and one of the world’s largest oil-producing nations. Oil prices have jumped more than
Reuters Oil eased on Monday, after earlier hitting its highest in more than seven years, as Ukraine hinted at possible concessions to Russia that could alleviate tensions between the two countries that Western governments say are on the brink of war. U.S. West Texas Intermediate (WTI) crude dropped $1.10, or 1.17%, to $92.77 a barrel, after hovering near a session-high
CNBC Oil will “certainly” hit $120 a barrel and the global economy will be “radically altered” if Russia invades Ukraine, veteran strategist David Roche has predicted. Moscow has denied that it plans to invade neighboring Ukraine, but has moved around 130,000 soldiers, tanks, missiles, and even fresh blood supplies to the border. The Kremlin is demanding that Ukraine never be
US News WASHINGTON – The United States is in talks with major energy-producing countries and companies around the world over a diversion of supplies to Europe if needed in the event of a Russian invasion of Ukraine, senior Biden administration officials said on Tuesday. Speaking to reporters on a call, the officials did not name the specific countries or companies
Reuters The launch of Russia’s Nord Stream 2 gas pipeline will mean Europe will be solely dependent on Moscow-run pipelines as the Ukrainian route for gas delivery to Europe disappears, the head of Ukraine’s gas transit operator said. Russia’s Gazprom has almost completed the construction of Nord Stream 2, which can divert transit gas flows still going through Ukraine to
Reuters BERLIN/KYIV – German Chancellor Angela Merkel on Thursday defended a deal with the United States that allows the Nord Stream 2 gas pipeline to proceed as a pragmatic compromise, but Ukraine said it was too weak to ensure Russia behaves the way Kyiv and the West want. Ukraine has long opposed the nearly completed $11 billion project which will
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