The economy has been resilient despite higher prices stemming from the war in the Middle East, but that could change quickly if cold weather forces countries to tap depleted gas reserves.

Estonia’s fuel reserves centre does not currently plan to repurchase the fuel it released onto the open market in March because prices remain high, ERR reports. Estonia is not facing a fuel shortage, although commercial filling station stocks are limited. The centre’s director, Ando Leppiman, sai…

SYDNEY, March 13 (Bernama-dpa) — Australia is drawing on parts of its strategic fuel reserves for the first time since Russia’s 2022 invasion of Ukraine, Energy Minister Chris Bowen announced at a press conference on Friday, reported German Press Agency (dpa). The government will release around six days’ worth of petrol and five days’ worth of diesel from its emergency stockpile to give suppliers more flexibility in managing fuel supplies, Bowen said. He cautioned that due to complex supply chains, the fuel would not reach the market immediately. “The minimum stock obligation which was introduced … for this purpose, for, […]

India Says It Has Secure Oil Supplies For Two Months.