Global oil reserves plunge by record 200 million barrels in April
Global commercial crude oil inventories fell by a record 200 million barrels in April amid escalating conflict in the Middle East. This poses serious risks of a sharp rise in fuel prices ahead of the summer travel season, according to S&P Global Energy. According to S&P Global Energy estimates, oil…
Norway resumes gas production at three closed fields
The Norwegian government has decided to resume operations at three previously closed gas fields. The measure is aimed at increasing energy supplies to Europe amid the continent’s ongoing energy security challenges. According to Norway’s Ministry of Petroleum and Energy, restarting the fields will allow for a rapid increase in natural…
German law enforcement launches large-scale operation against far-right youth groups
Germany’s Federal Public Prosecutor’s Office is conducting a sweeping police operation against two far-right extremist youth organizations, “Deutsche Jugend Voran” (DJV) and “Jung und Stark” (JS). Since early morning, searches have been carried out at the homes of more than 36 suspects across several federal states. The Federal Prosecutor’s Office…
EU demands US fulfill trade agreement obligations by July
Brussels is urging Washington to strictly adhere to the obligations under a trade agreement reached last year, insisting that its key provisions be approved before the July deadline, Bloomberg reports. Against the backdrop of new tariff threats from the Donald Trump administration, the European Union is pushing for unconditional compliance…
London introduces new sanctions against migrant recruiters and drone component suppliers for Russia
The United Kingdom has announced a new package of sanctions targeting 35 individuals and organisations involved in recruiting vulnerable migrants to fight in Russia’s war against Ukraine, as well as in supplying components to produce Russian strike drones. According to a statement published by the UK Foreign Office on 5…