Thursday’s episode of Business Arena was dominated by topics connected to energy.
Oil prices are falling, but that does not directly translate into lower energy prices, and those are weighting Europe down. Across the pond, the prices of fuel may help reign in runaway inflation. Prices are hovering in the range of USD 98 per barrel of crude oil, compared to USD 123 in March, when prices spiked following the Russian invasion of Ukraine. But in Europe, gas prices remain high and far exceed those of oil.
It looks like it is going to be an expensive winter to heat homes. There is speculation about rationing and potential power outages. But even more is being said about the crippling sanctions placed on Russia for its invasion of Ukraine. The question remains: are they making a dent? This is the subject of Business Arena’s report.