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Keyword: europeisscrewed

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  • Why India Is Suddenly Buying Less Russian Crude

    09/23/2022 11:41:47 AM PDT · by BeauBo · 11 replies
    OilPrice.com ^ | Sep 22, 2022 | Charles Kennedy
    In September, Indian refiners are not expected to buy any ESPO crude from Russia because of the higher shipping rates. African and Middle East crude becomes more attractive as shipping rates on long voyages have jumped... However, with a recent surge in freight rates, Russian oil doesn't look so cheap. Moreover, the travel time from Russia's Far East, where the ESPO grade is loading for exports, is a month to India, compared to a week necessary for a Middle Eastern cargo to reach India... "On net back basis after factoring in the freight, the landed cost of ESPO is turning...
  • You Have No Idea How Bad Europe’s Energy Crisis Is

    08/29/2022 4:35:31 PM PDT · by EBH · 76 replies
    Foreign Policy.com ^ | 8/26/22 | Christina Lu,
    Natural gas prices are 10 times the usual—upending industries, angering consumers, and panicking politicians. If most of the world is struggling with higher energy prices, Europe is being stretched on the rack, forcing European leaders to improvise bailout plans and emergency measures to spare consumers from damaging economic pain come winter. The biggest problem is spiking natural gas prices, which have been wreaking havoc across the continent, turbocharging inflation, hamstringing industries, and making ordinary people shudder when they get their power bills in the mail. European natural gas prices are now around 10 times higher than they were on average...