Europe could face flight cancellations “soon” as fuel shortages intensify, according to Fatih Birol, head of the International Energy Agency.
Following the resurgence of China, the price of oil is projected to reach $90.
Major analysts have suggested that due to China’s recovery from years of Covid lockdowns, the price of oil may rise to nearly $90 a barrel this year.
China Plans For A UK Super Embassy In London
China purchased a huge 700,000-square-foot property worth £255 million in 2018. The former location of London’s Royal Mint is now a 70,000 sq. ft.
The fourth day of oil drops due to China demand concerns
Oil lost more on Thursday as concerns about China’s renewed COVID curbs raised concerns about fuel consumption in the world’s largest crude importer.
China’s July Russian coal imports to China are now at 5-year highs as the West rejects Moscow
China’s July coal imports from Russia rose 14% from one year ago to their highest level in at least five decades. This was because China purchased discounted coal, while Western
European governments ready steps in if Russian gas supplies stop
Many European countries have plans in place for managing gas supply, and even rationing power in the event that Russian gas flows cease after supplies through the Nord Stream 1
Germany was preparing to trigger the second phase of its emergency gas plan – known as the “alarm” stage
As Europe’s energy crisis worsens, Europe was urged to plan for a complete cut-off of Russian gas supplies.
EU moves to coal and accuses Russia of ‘rogue actions’ regarding gas
An official from the EU stated Wednesday that the European Union will temporarily switch back to coal in order to deal with the slowing Russian gas flow. This was due