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The Latest Breaking News from Gas Prices

European gas prices likely to fall sharply this winter, says Goldman Sachs

EU countries’ efforts to avoid big shortages likely to ‘successfully solve’ Russian cuts, says bank

The Guardian - UK

Dow Jones plunges amid news of US inflation rates

Inflation slowed for the second consecutive month as energy costs fall

The Guardian - US

Fears drought and high gas prices could cause UK food shortages this winter

Experts warn of reduced yields for some crops, with low rainfall continuing into the sowing period

The Guardian - UK

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EU readies energy package, countries split over gas price cap

The European Union is set to unveil a package of proposed emergency measures this week including a windfall profit levy on energy firms, but countries are split over the details and whether to impose a cap on gas prices.

Reuters

The Tories spent a decade putting fossil fuel profits first. Now we’re all paying the price

Instead of home insulation and cheap renewables ministers have given us fracking, says Max Wakefield, a director at climate action group Possible

The Guardian - UK

Gasoline prices: They're down, then they're up, now they're down. But why?

No household staple has been spared the creep of inflation — not milk and definitely not gasoline, both conveniently sold by the gallon and essential to many family routines.

Tribune News Service

'Harsh winter ahead' could stifle Scottish economic growth

Scotland’s productivity is the third highest off all UK regions and nations, yet still remains below the UK average

Insider UK

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The economic challenges facing Liz Truss, in four charts

Topmost in the new prime minister’s in-tray will be energy bills, wholesale gas prices, inflation and fuel poverty

The Guardian - UK

EU proposes Russian gas price cap, windfall tax

The European Union is proposing a cap on the price of Russian natural gas, despite Vladimir Putin threatening to cut off supplies for any market that does so. European Commission President Ursula von der Leyen is also asking energy ministers to consider imposing a windfall tax on companies that have…

France 24

Russia Pockets $158 bn in Energy Exports after War

Russia has raked in a whopping 158 billion euros ($158 billion) in energy exports in the six months following its invasion of Ukraine, with the EU accounting for more than half, a think tank said Tuesday. The Centre for Research on Energy and Clean Air called for more effective sanctions…

Asharq Al-Awsat

UK energy crisis: why rationing is likely to happen this winter, whether Liz Truss likes it or not

In the 1970s, the UK government used a series of planned blackouts to manage energy shortages. The result was a three-day week for commercial use of electricity, with work and leisure often happening by torch or candlelight. Without widespread demand reduction to tackle the impact of high gas prices, European…

The Conversation

Western Australia has the cheapest energy in the OECD, as prices go sky high in eastern states

The costs of energy have dramatically jumped across Australia as war and shortages make themselves felt globally but WA has been spared the shock

The New Daily

Euro Plunges to 20-Year Low after Russian Gas Halt

The euro sank to a new 20-year low on Monday and below $0.99 after Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the region. The euro has been increasingly correlated with natural gas prices in recent months, with the…

Asharq Al-Awsat

Gas Prices Soar as Indefinite Halt of Nord Stream 1 Kindles Winter Fears

Dutch and British wholesale gas prices soared on Monday morning, reversing most of a downward trend seen the previous week, after Russian gas deliveries to Germany via the Nord Stream 1 were suspended indefinitely over the weekend. The British contract for day-ahead delivery sky-rocketed 200 pence, or 133% to 350…

Asharq Al-Awsat

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The Guardian - UK

Gas prices soar and pound and euro fall as Russia shuts Nord Stream pipeline

European countries scramble to store as much gas as possible before winter as they brace for shortages

The Guardian - UK

Opec and allies to cut oil output in October; gas prices jump after Russia pipeline closure – as it happened

Oil cartel agrees 100,000 barrels/day cut to production; wholesale gas prices jump after Russia keeps a key pipeline to Europe closed

The Guardian - AU

Russia-Ukraine war: Ukraine says it has pushed Russian forces back near Kramatorsk; last Zaporizhzhia reactor disconnected after Russian shelling – as it happened

Operator Energoatom says last transmission line cut because of a fire caused by shelling; EU and Ukraine sign aid deal

The Independent UK

Gas prices set to soar again on Monday after Russia shuts off Nord Stream supply pipeline

1,200 km gas link was due to reopen on Saturday

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Reuters

Europe's efforts to shield households from soaring energy costs

Europe faces massive increases in energy bills driven by rocketing gas prices as the Ukraine conflict and European sanctions on Russia heighten concerns over gas supplies.

The Guardian - UK

Germany announces energy windfall tax and €65bn package to help ease prices

Chancellor Olaf Scholz says country ‘will get through this winter’ as he accuses Russia of breaking contract

Wales Online

Energy crisis: Why UK will be at mercy of international gas prices for years to come

Avoiding a significant gas supply emergency this winter will require the continued flow of some Russian gas to Europe

Asharq Al-Awsat

Russia Keeps Pipeline Shut as Gazprom, Siemens Energy Wrangle

Russia kept one of its main gas supply routes to Europe shut on Saturday, stoking fears of winter fuel shortages and spotlighting differences between Gazprom and Germany's Siemens Energy over repair work on the pipeline. Already struggling to tame soaring gas prices, European governments had expected the Nord Stream 1…

Radio France Internationale

Pressure grows on France to levy windfall tax on ‘super profits’

As ordinary French people fret over the rising cost of living, the government is under pressure to levy a windfall tax on energy firms that have reaped the benefits of higher oil and gas prices pushed up by the war in Ukraine. While the government is divided, PM Elisabeth Borne…

The Guardian - UK

Energy contracts reform can bring prices down – if the new PM is tough enough

A switch from outdated wholesale pricing deals will require a government that can face down vested interests

The Guardian - UK

Energy industry backs plan to save businesses and homes up to £18bn a year

Idea would separate the cost of electricity produced by nuclear and renewable sources from generation by gas

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