The energy crisis took a sharp turn over the weekend, after Russian energy giant Gazprom shut down the Nord Stream 1 pipeline after three days of maintenance works. The company cited oil leaks in the pipeline as its reason for closing the supply line, however European leaders have accused Moscow of using Nord Stream 1 […]

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The Euro hit a 20-year low, sinking 0.43% to 0.9911 dollars on Monday as the energy crisis ravaged the European continent. The plunge followed Russian gas giant Gazprom’s announcement that its three-day suspension of the Nord Stream 1 pipeline would be extended indefinitely, after maintenance works uncovered apparent oil leaks in the vital gas supply […]

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G7 finance ministers are reportedly set to shore up plans for a price cap on Russian oil, with the aim of kneecapping Russia’s revenues for its invasion of Ukraine, while maintaining crude flows to avoid additional spikes in price. The G7 members will be meeting virtually to discuss the implementation of plans to help mitigate […]

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Russian energy firm Gazprom shut down the Nord Stream 1 pipeline on Wednesday for unscheduled “maintenance work” on the Trent 60 gas compressor unit operating on the critical supply route to Germany. Gas supply to Europe is scheduled for suspension until 2 September, temporarily crippling the continent’s efforts to stockpile energy supplies in advance of […]

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The UK reported no fuel imports from Russia for the first time on record, according to the National Office of Statistics (ONS). The historic announcement marked a fall of £499 million from the monthly average for the 12 months to February 2022, after the UK government said it would phase out all Russian oil imports […]

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The price of oil fell below the $100 mark ahead of the OPEC+ meeting today, with benchmark Brent Crude dipping to $99 per barrel. The market currently expects producers to keep a steady output, with little to no change in production as supply fears persist on the back of the Russian war in Ukraine. “There […]

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Ferrexpo shares gained 1.1% to 144.5p in early morning trading on Wednesday, despite a revenue decline of 31% to $936 million in HY1 2022 against $1.3 billion last year, as a result of lower production and tighter market conditions. The Ukraine-focused company confirmed a 14% drop in pellet production to 4.8 million tonnes, with the […]

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The US Federal Reserve hiked interest rates 0.75% on Wednesday, hitting a target range between 2.25% to 2.5% in a bid to tackle soaring inflation. US inflation reached a record height of 9.1% in June this year, ahead of analyst expectations and sparking renewed fears of a recession. Meanwhile, some market analysts expect the US […]

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The FTSE 100 gained a 0.5% boost to 7,343.5 after a slate of positive results from the UK and US markets helped the FTSE 100 outperform European indices and US futures. “The FTSE 100 made some modest progress on Tuesday morning as earnings reports on both sides of the Atlantic turn from a trickle to […]

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Polymetal shares rose 4% to 187.2p in early morning trading on Thursday after the company reported a business update announcing its gold bullion concentrate sales continued as usual from Kazakhstan. However, the mining group confirmed that its silver bullion accounted for less than 5% of its estimated 2022 sales, due to a lack of export […]

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The Consumer Price Index (CPI) rose to 9% in April compared to 7% in March, according to figures reported by the Office of National Statistics (ONS) today. The rise represents the highest 12-month growth since records began in 1997, and is also the highest rate on record for the constructed historical series, which kicked off […]

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McDonald’s announced on Monday that the American fast-food chain has decided to exit the Russian market and has begun the course of action to sell off its Russian business after halting operations in March after Russia attacked Ukraine. McDonald’s has concluded that ongoing ownership of the firm in Russia is no longer feasible, and is […]

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Saudi energy giant Saudi Aramco officially overtook tech company Apple as the most valuable firm on the international market earlier this week. Aramco reported a market valuation of slightly under $2.4 trillion on Wednesday, as Apple dropped more than 5% during Wednesday trading with a current worth of $2.3 trillion. The Saudi oil and gas […]

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RHI Magnesita shares were up 5.7% to 2,370p in late afternoon trading on Thursday, after the company announced a 50% rise in EBITDA for Q1 2022 year-on-year, trading in line with management expectations and reflecting strong demand along with a schedule of price increases. The company confirmed that it successfully passed on price increases to […]

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Coca-Cola HBC reported its first quarter trading update on Thursday where the group noted an increase of 24% in net sales revenue on an organic basis and a 31% rise in volumes on a reported basis as the group managed inflationary pressures and manufacturing suspensions in Russian and Ukraine which sent shares to gain 5% […]

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The FTSE 100 languished in the red on Monday as the index dropped 1.9% to 7,240.5, its lowest point since mid-March in light of Beijing’s continued lockdown and market concerns about the Federal Reserve’s next moves on interest rates. Russia’s military display in Moscow to celebrate the Soviet victory against Germany in the second world […]

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The UK government reported an additional £1.4 billion worth of targeted sanctions against Russia and Belarus in the latest wave of measures to target Vladimir Putin’s conflict in Ukraine. The move was announced on Sunday by International Trade Secretary Anne-Marie Trevelyan and Chancellor of the Exchequer Rishi Sunak. “We are determined to do our utmost […]

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Shell shares were up 3.1% to 2,294.5p in early morning trading on Thursday, as the energy giant’s profits tripled on the back of surging oil prices. The escalating conflict in Ukraine sent the price of Brent crude to $110 per barrel, boosting Shell to a quarterly profit of $9.1 billion, its highest on record and […]

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The EU has said it will deny Russian demands for member states to pay for oil and gas from national energy company Gazprom in roubles. European commissioner for energy Kadri Simson commented that Moscow’s ultimatum to pay in Russian currency or forfeit the supply of Moscow’s energy exports had been rejected, following a meeting of […]

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Today Brent Crude was down 7% to $46.25 per barrel, a $25 price cut from the first week of 2020, and representing its lowest price since mid-2017. This came on the back of fresh talks between OPEC and Russia, on potential production cuts, with Russia apparently refusing to agree to a deal. The effect this […]

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Trans-Siberian Gold (LON:TSG) have seen their shares jump on Monday following developments made regarding their Russian operations. The firm said that they had reported a mineral resource estimation of one million ounces of gold at their Rodnikova deposit. Looking at the JORC-compliant estimate, this indicated a mineral resource estimate of 3.1 million tonnes at a […]

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Highland Gold Mining (LON:HGM) have told the market that they have beaten their 2019 output guidance in a relatively impressive update. The firm said that it had been helped out at the Mnogovershinnoye mine in Russia which allowed the firm to beat expectations. In the fourth quarter to December 31, production from Highland’s four operating […]

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Russia-focused real estate development company AFI Development (LON: AFRB) posted underwhelming results for the first nine months of the year, in what it described as ‘challenging market conditions’. The Company were able to report some areas of progress. For instance, they celebrated year-on-year revenue growth for the nine month period, from $207.1 million to $254.4 […]

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Leaders of OPEC member states meet in Vienna on Monday to decide whether to extend the deal which places a cap on oil production volumes. The deal was struck in December 2018 and enforces a cut on oil production by 1.2 million barrels per day. Extending the production curb In the lead-up to the talks […]

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Tensions between Russia and Ukraine have been amplified with news that Russia had intercepted and seized three Ukrainian naval vessels on Sunday. The incident occurred as the two Ukrainian gunboats and one tug were intercepted – with the tug being rammed by a Russian boat – in the Kerch Strait, off to coast of Crimea […]

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Danske Bank (CPH:DANSKE) have seen their share price fall in Tuesday morning trading following a media report, which uncovered additional information on an open investigation into malpractice. The report revealed that Danske’s Estonian branch was guilty of laundering far more money than had been previously uncovered. Late on Monday night, the FT report announced that […]

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The Russian government has agreed to sell its largest oil stake in Rosneft, in a bid to rescue its ailing economy. London-listed company Glencore and the Qatar Investment Authority (QIA) have agreed to acquire a 19.5 percent stake in the company for €10.5bn (£8.9bn). According to the deal, Glencore will supply €300 million in funding, […]

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