Other news

Many oil refineries located along the U.S. Gulf Coast were closed due to low temperatures. Although statements about the fast restore of production rates were made, fuel prices have already risen.

Power cutoffs and flight cancellations were not the only consequences of freezing temperatures across more of the U.S.

Japanese consumers of Russian LNG evaluate how the rules of shipping insurance may influence the supplies from a key project Sakhalin-2. It is located in the Far East of RF.

Gas futures in Europe fell 9.8% on Friday to end the week with a loss of 28%. Weather in many parts of Europe is expected to be milder in early January, which means that residents will not need to use much heat.

According to a statement made by Russia’s vice prime minister Alexander Novak, the country may increase the volumes of crude oil exports in case there’s a decline in refinery throughput because of the European Union’s banning fuel imports.

On Saturday, the head of the German government's council of economists said inflation could persist for the next two years. This is due to the fact that companies are moving towards a higher level of production costs, and even often exceeding it.

Beijing and Shanghai residents took to the streets and crowded subways of Chinese cities on Monday as COVID restrictions have been partially lifted.

Canadian TC Energy Corp. announced that it will begin the restart process of the Keystone oil pipeline segment. Previously, it was shut down due to an oil leak.

Forecasts of analysts concerning the oil prices. Citi — Brent $80, WTI $75; JPMorgan — Brent $90; OPIS — Brent $95 – 96, WTI $90; Infrastructure Capital Advisors — $80 – $100.

On Friday, U.S. natural gas futures rose about 2%. Extremely cold weather acted as a major driver of rising energy prices, which have peaked in most parts of the country over the past few years.