... and the pipeline will be fully operational by 2028. The plan is to deliver Russian oil via a new route through the Druzhba pipeline, transiting through Hungary directly into Serbia. Previously, Russia supplied oil to Serbia by sea. "Gazpromneft exported oil via the port of Novorossiysk to Croatia, where the oil was unloaded and then sent through a direct pipeline to the Serbian oil refinery owned by NIS. However, the sixth package of anti-Russian sanctions, effective from December 5, 2022, has prohibited ...

... Trade Data: China’s trade balance offers insights into global demand, particularly for industrial and consumer goods. Strong exports support commodity prices, while weak trade data may raise concerns about the global economy. Eurozone Industrial Production: ... ... European stock markets. Strong production supports the region’s economy, while a decline may indicate broader challenges. U.S. Oil Inventories: The EIA’s report on oil inventories impacts oil prices, with high inventories potentially weighing on prices ...

... progress in developing new medications. Oil and gas giant ConocoPhillips will report its earnings for the past quarter amid oil price volatility; its results will serve as a benchmark for the entire energy sector. Motorola Solutions is also expected ... ... macroeconomic and corporate factors simultaneously. In the morning, investors will assess data from China: any signs of slowing exports will heighten fears about global growth. In the afternoon, the central event will be the Bank of England's decision — ...

... Energy and Finance Institute. Turkmenistan mainly exports its gas to China. While it has shown interest in diversifying its export routes, its relations with Russia remain strained due to competition with Gazprom in the gas market. “Turkmenistan ... ... to Europe, utilizing Ukraine’s gas transit system built during the Soviet era,” notes Sergey Tereshkin, CEO of the Open Oil Market. However, this pipeline is currently used for reverse gas flows from Russia to Uzbekistan, Tereshkin points out....

... costs for consumers and businesses, potentially prompting the European Central Bank to adjust its monetary policy stance. Impact on the United States: Changes in Germany's PPI can affect the euro's exchange rate against the dollar, influencing U.S. exports and imports. Additionally, multinational corporations with operations in Europe may experience cost fluctuations impacting their profitability. U.S. EIA Crude Oil Inventory Report (18:30 GMT) The Energy Information Administration's report on crude oil inventories will provide insights into supply levels and potential price movements in the energy sector. Impact on Europe: Fluctuations in U.S. crude oil inventories ...