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 […]
Slovenian energy company Petrol has announced a series of immediate measures in response to the government’s recent fuel price controls. CEO Saša Berger revealed that the company will suspend all development investments within Slovenia, freeze sponsorships and donations, and prepare to renegotiate contracts with suppliers. Additionally, Petrol plans to close several unprofitable petrol stations. Berger
OMV Petrom has finalized a major supply agreement with Astra Bioplant, a leading Bulgarian producer of biodiesel and a member of the Bulmarket group. The contract covers the purchase of pre-treated used cooking oil, a key raw material for the company’s future production of sustainable fuels. Set to begin in 2028, the agreement will run
The Federation of Bosnia and Herzegovina (FBiH) has introduced stricter fuel quality regulations through recent amendments to the Law on Petroleum Products. This move aims to provide citizens with higher-quality fuels, improved regulatory oversight, and the authorization of fuel additives. Additionally, mandatory monitoring of liquefied petroleum gas (LPG) has been established to protect public health,
Brent oil futures for the Front Month on the ICE market recorded their lowest weekly settlement price at $66.87 per barrel on Tuesday, June 10. For most sessions during the second week of June, settlement prices stayed below $70 per barrel. However, on Friday, June 13, these futures rose by 7.0% compared to the previous
Europe: Brent oil and TTF gas prices surge amid Middle East tensions and supply concerns Read More »
The Slovenian Government has decided to extend its current fuel price regulation for an additional six months, while introducing new measures to ensure that fuel prices at highway service stations align with prices found elsewhere in the country. After considering several options for fuel pricing, officials opted to keep the existing system based on profit
Preparations are progressing for the construction of the Serbia–Hungary oil pipeline, with authorities working to secure the necessary location conditions. The upcoming stages will involve drafting the main design required for obtaining a construction permit and conducting an environmental impact assessment. These measures aim to accelerate the start of construction, according to Serbia’s Minister of
Region: Preparations underway for Serbia–Hungary oil pipeline construction Read More »
Fuel retailers in Slovenia have expressed strong dissatisfaction with the Government’s proposed overhaul of fuel price regulations. The planned changes aim to lower the maximum allowable profit margins on already regulated fuel prices and extend the regulation to petrol stations located along highways. Leading retailer Petrol has warned that such policies could force the company
Slovenia: Fuel retailers oppose Government’s proposed fuel price regulation changes Read More »
Brent oil futures for the Front Month in the ICE market recorded their lowest settlement price of the week, $64.63 per barrel, on Monday, June 2. Prices increased during most sessions throughout the first week of June, reaching a weekly high of $66.47 per barrel on Friday, June 6. This value was 4.0% higher than
The European Union is preparing a new wave of sanctions targeting Russia’s energy and financial sectors to increase pressure and encourage diplomatic negotiations. Central to the plan is a proposal to lower the existing price cap on Russian oil exports from $60 to $45 per barrel. This move aims to significantly reduce Russia’s oil revenues,
