Oil tanker costs climb as Russia ties up system with longer routes

Apr 13, 2023
The cost to ship fuel has more than doubled since February.
Sanctions forced Russia to sell more of its oil to countries like India and China, straining the availability of tanker ships.
Angelos Tzortzinis/AFP via Getty Images

Russian oil prices are climbing — here's why

Mar 9, 2023
Small independent processors in China are being joined by larger Chinese refiners, driving prices higher.
Since the start of war in Ukraine, Russia has shifted some crude exports to markets in Asia, like India, Turkey and China. Above,  an oil refinery near Moscow.
Natalia Kolesnikova/AFP via Getty Images

Sanctions designed to keep the price of Russian oil low seem to be working

Jan 10, 2023
Whether they $60 a barrel price cap will continue to work in the long run is an open question though.
Russian oil is trading at prices well below those of oil from other countries after the implementation of oil price caps. Above, a refinery on the outskirts of Moscow.
Natalia Kolesnikova/AFP via Getty Images

What does the price cap on Russian oil mean for global oil prices?

Dec 7, 2022
The $60 price cap was designed to limit Russian oil revenues, while keeping the oil itself flowing to avoid a global price shock.
After debating how high to set a price cap on Russian oil, Western allies agreed to $60 per barrel. 
Above, an oil refinery in Moscow.
Natalia Kolesnikova/AFP via Getty Images

A cap on Russian oil could be coming — if Western allies can agree on a price

Nov 23, 2022
An EU diplomat is considering a $65 to $70 per barrel price cap on oil from Russia. But some nations want a more punitive target.
A Gazprom refinery on the outskirts of Moscow.
Natalia Kolesnikova/AFP via Getty Images

High energy prices could threaten European utilities' ability to keep doing business

Sep 6, 2022
A reported $1.5 trillion is tied up as collateral on energy markets. That's making it hard for energy companies to operate.
Natural gas prices in Europe rose swiftly over the weekend following the announcement that Russia's state energy company Gazprom will not resume pumping natural gas through the Nord Stream pipeline. Above, a natural gas storage facility in Austria.
Alexandra Beier/Getty Images

6 months into the war, how's the Russian economy faring?

Aug 24, 2022
Russia remains economically isolated and it's suffering a brain drain of young, educated professionals, explains Kristy Ironside of McGill University.
Russia's financial isolation has contributed to the recovery of the ruble's value.
Kirill Kudryavtsev/AFP via Getty Images

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Natural gas strategy tests Europe's unity against Russia

Jul 22, 2022
European leaders worry about the risk of a supply shortage in the winter, though member nations have different levels of energy security.
An industrial plant in Germany that uses Russian natural gas. Germany, the largest economy in Europe, is also the most dependent on the Russian resource.
Edouard Merlo/AFP via Getty Images

The U.S. tries to build support for a price cap on Russian oil

Jul 13, 2022
Experts say buy-in from China and India would be key to making the policy work.
The U.S. and its allies hope to create a "buyers cartel" aimed at reducing Russia's oil revenue in response to its attack on Ukraine.
Frederic J. Brown/AFP via Getty Images

U.S. pushes for Russian oil price ceiling. Feasible?

Jun 28, 2022
Advanced nations will evaluate the idea in an effort to limit Russia's energy revenue. But Russia could retaliate.
An oil refinery on the outskirts of Moscow. Although the advanced nations are considering a price cap on Russian oil, Russia could retaliate by shutting off the flow of natural gas to Europe.
Natalia Kolesnikova/AFP via Getty Images