Hungarians are low on gas. Orbán capitulates to the law of the market

China is experiencing the biggest popular storms since 1989, which is why oil is sharply cheaper. This may please Czech motorists, but not Hungarian motorists – for them, fuel will become more expensive due to yesterday’s reduction of the ceilings, economist Lukáš Kovanda comments on the events on the markets on the threshold of the […]

The Kremlin is clear. He announced to which countries he would not supply any gas

Russia is guided by its own interests and will not shoot itself in the foot, said Putin’s spokesman Dmitry Peskov. He was reacting to the ongoing discussions on the introduction of a price ceiling for oil and gas, which are being conducted within the European Union and among the G7 countries. A Kremlin spokesman said […]

Zelenskyy wants a significantly stricter ceiling on Russian oil

But the G7 proposal does not have unequivocal support in the West. The governments of the countries of the European Union, which want to complicate the financing of the war for Russian President Vladimir Putin, have not yet agreed on a common position among themselves. The G7 group consists of the United States, Canada, Japan, […]

Russian oil has ceilinged itself on the markets

According to data from trading company Argus Media, the price of Russian Urals oil fell to $52 (CZK 1,220) per barrel on Thursday. For comparison, a barrel of Brent North Sea oil was sold for 85 dollars (1990 CZK) on the same day. Russian oil has been at a discount against Brent for a long […]

Belarus is asking for a 39 percent increase in the oil transit fee from January

“We received the relevant letter from our Belarusian colleagues with a request to increase the tariff by 39 percent on the grounds that they expect the volume of transported oil in their system to drop by half from next year,” said Transnefti spokesman Igor Ďomin. The state company Transneft is a monopoly operator of oil […]

Fuels are getting cheaper. Gas stations blow inflated margins

Pumpers are once again “magical” with margins. Diesel prices are 10 crowns per liter higher than on the eve of the invasion, even though oil is now traded at a comparable price in crowns as it was then. The price of fuel in the Czech Republic fell significantly in the past week. Gasoline was sold […]

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Oil is all Putin has left, says Biden’s husband

Putin destroyed the Russian economy. The only thing he can still lean on is oil, Amos Hochstein, an adviser to US President Joe Biden, said in an interview with CNBC. Putin’s war in Ukraine is taking its toll on the Russian economy. The Kremlin may mock the West for its economic sanctions, but the numbers […]