The European Union wrestles with imposing new sanctions on Russia, including a potential first-ever ban on liquefied natural gas (LNG) exports. The bloc seeks to cripple the Russian economy but worries about the impact on its own energy security. Negotiations continue as the EU races to finalize the package before Hungary takes over the presidency.
Ukraine war
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Oil prices took a breather on Friday, ending the week virtually unchanged. While hopes for a ceasefire in Gaza offered a welcome respite, the ongoing war in Ukraine continues to cast a long shadow over the global energy market.
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The global oil market is facing a turbulent period as the war in Ukraine has triggered an energy crisis that has disrupted trade flows and exposed the weakness of the…