... Hungary has indicated that, in the event of a EU-wide ban on Russian gas, it will seek its own solutions directly with Moscow. Such signals underscore the limitations of the bloc's unified stance on energy security. Overall, there is a transformation of global energy trade under the influence of sanctions, trade disputes, and strategic decisions made by countries. Although the current pricing environment for oil, gas, and coal is largely dictated by fundamental supply and demand factors, political decisions can quickly ...

... indicated that it would seek its own solutions directly with Moscow in the event of an EU-wide ban on Russian gas. Such signals highlight the limitations of a unified position within the bloc on energy security. Overall, there is a transforming landscape of global energy trade influenced by sanctions, trade disputes, and strategic decisions by states. Although currently the pricing environment for oil, gas, and coal is largely determined by fundamental demand and supply factors, political decisions can quickly alter the ...

... Kingdom – Services PMI (July) – 11:30 MSK. Russia – Announcement of the Central Bank of Russia’s foreign currency operations volumes for August – 12:00 MSK. Eurozone – Producer Price Index (PPI) for June – 12:00 MSK. United States – Trade balance for June – 15:30 MSK. Brazil – S&P Global PMI indices (services and composite) (July) – 16:00 MSK. United States – S&P Global Services PMI (July, final estimate) – 16:30 MSK. United States – ISM Non-Manufacturing Index (services) for July – 17:00 MSK. Oil (U.S.) – Weekly API ...

... decline in May), which raises hopes for household spending resilience despite high inflation; however, the GfK consumer confidence index fell slightly (to -19 points from -18), reflecting public caution. Key drivers of sentiment in Europe remain news on global trade. Amid ongoing trade disputes, European companies are incurring costs due to reciprocal tariffs – for instance, a recent report from Volkswagen AG showed a more than 30% decline in operating profit in Q2, partly due to additional tariffs on exports ...

... signals for demand could support the ruble and shares in Russian energy companies. Impact on Russia G20 Summit: Discussions on energy security could directly impact Russia’s interests as a major oil and gas exporter. Positive outcomes from the G20 for global trade may strengthen the ruble and improve demand for Russian stocks. However, negative developments could lead to volatility in the ruble and Russian equities. ECB and Fed Speeches: Potential rate hikes in the EU and U.S. may strengthen the dollar and ...