During the fourth week of June, Brent crude oil futures prices experienced a decline. On Monday, June 23, the price settled at $71.48 per barrel, already 7.2% lower than the last session of the previous week. Prices continued to fall on Tuesday, June 24, dropping 6.1% from Monday and reaching the week’s minimum settlement price […]
As the European Commission pushes for a gradual phase-out of Russian energy imports by 2027, internal divisions threaten to derail progress. Hungary and Slovakia have strongly opposed the gas-related measures in the EU’s proposed 18th sanctions package, signaling they may block the initiative unless natural gas is excluded. In contrast to these debates, Serbia is
Serbia plans new gas storage facility amid EU energy tensions and supply uncertainty Read More »
Bulgarian state-owned gas supplier Bulgargaz has proposed a wholesale natural gas price of approximately 33 euros per megawatt-hour (MWh) for July 2025. This represents a modest increase of 0.6% compared to the approved price for June, which stood at 32.8 euros/MWh — itself only 0.1% higher than the May rate. The proposed price is based
Bulgaria: Bulgargaz proposes slightly higher wholesale gas price for July 2025 Read More »
European gas prices increased by 11.4% during the week of June 16–22, 2025, driven by geopolitical tensions in the Middle East, increased cooling demand amid hotter-than-usual weather, and reduced wind power generation across the continent. On June 19, the TTF futures for the month ahead, traded on the ICE exchange, reached €41.6/MWh, marking the highest
Gradska plinara Zagreb-Opskrba (GPZO) will no longer supply natural gas to public institutions in Zagreb, marking another setback after losing its position as the primary household gas supplier last year. Following an extensive evaluation of bids for a public procurement contract valued at 14.5 million euros, a new supplier has been chosen. The contract was
Brent oil futures for the Front Month on the ICE market reached their lowest weekly settlement price of $73.23 per barrel on Monday, June 16. Prices then climbed, remaining above $75 per barrel for the rest of the week. The peak weekly settlement price was $78.85 per barrel on Thursday, June 19 — the highest
The European Commission’s draft regulation to phase out imports of Russian natural gas applies only to EU member states, leaving countries outside the bloc, such as Serbia, unaffected in terms of their own gas supplies. This means Serbia can continue importing Russian gas for its domestic consumption. However, restrictions would apply if the gas is
Serbia: EU’s Russian gas import ban excludes non-member states Read More »
In June, Romgaz began drilling operations for the 54 Damianca well in the Caragele gas field, aiming to reach a final depth of 5,100 meters. The project is focused on identifying previously untapped gas resources and analyzing geological formations located beyond 4,000 meters. According to the company, the drilling is progressing on schedule and without
Romania: Romgaz advances deep drilling at Caragele gas field to unlock new resources Read More »
In Week 24 of 2025, natural gas prices in Europe surged amid rising geopolitical tensions in the Middle East. The escalation began after Israel launched a series of strikes on Iran, sparking fears of a broader conflict in a region critical to global energy supplies. This unrest, coupled with forecasts of high temperatures and reduced
Europe: Natural gas prices surge amid Middle East Tensions and Strait of Hormuz risks Read More »
Serbia is currently negotiating a new long-term natural gas agreement with Russia, aiming to secure what it claims will be the most favorable gas price in Europe. According to Dušan Bajatović, Director of the state-owned company Srbijagas, the upcoming contract with Gazprom is expected to take effect in September and could last either three or
Serbia eyes new long-term gas deal with Russia amid EU energy shift Read More »
