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Russian President Vladimir Putin suggested on Wednesday that Russia could stop supplying gas to European markets now and move to more promising markets. The European Commission will submit a legal proposal to permanently ban Russian oil imports on April 15, three days after Hungary's parliamentary election, according to EU officials and a document seen by Reuters. "And now other markets are opening up. And perhaps it would be more profitable for us to stop supplying the European market [Read more]

Qatar will fully shut down gas liquefaction on Wednesday and won't be able to return to normal production and export levels of super-chilled gas for at least a month, two sources familiar with the matter said. Qatar Energy, which stopped producing gas this week and declared force majeure on exports on Wednesday, did not respond to a request for comment. The sources said that once Qatar's main Ras Laffan plant shuts on Wednesday, it won't be able to restart turning gas into super-chilled [Read more]

U.S. crude stocks rose to their highest level since May 2025 last week, the Energy Information Administration said on Wednesday, as exports and imports declined. Crude inventories rose by 3.5 million barrels to 439.3 million barrels in the week ended February 27, the EIA said, compared with analysts' expectations in a Reuters poll for a 2.3 million-barrel rise. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.6 million barrels in the week, the EIA said, hitting their highest [Read more]

U.S. Treasury Secretary Scott Bessent said on Wednesday that crude oil markets are well supplied amid the U.S.-Israeli war in Iran, and that the U.S. plans to make a series of additional announcements on the issue. "The crude markets are very well supplied. There are hundreds of millions of barrels on the water away from the Gulf. But more importantly, we have a series of announcements that we're going to be making," Bessent said in an interview with CNBC. Oil prices rose about 1% on [Read more]