A leading offshore trade group has urged the UK government to allow more North Sea oil and gas activity, warning that shrinking domestic output is leaving the nation exposed to volatile global markets.Offshore Energies UK (OEUK) said recent supply shocks and rising crude prices have underlined the need for more home-grown hydrocarbons to reduce import dependence.The trade body pointed to...

Another surge in energy prices has jolted Europe, reviving memories of the 2022 shock that followed Russia’s invasion of Ukraine.This time the trigger is instability in the Middle East, which has disrupted key shipping routes and sent markets into a fresh tailspin.The EU had vowed to end its heavy dependence on Russian fuels after 2022 and moved quickly: Russia now supplies almost none of the...

A fresh shock from the Middle East has sent energy markets reeling and reopened a debate Europe hoped it had settled.Months after stepping away from Russian fuels, EU capitals now face sharp price jumps and renewed political pressure as supplies tighten.After Russia’s 2022 invasion of Ukraine, the EU moved quickly to cut dependence on Moscow. Oil flows from Russia have almost disappeared for...