Europe Energy Crisis

The Russian government announced Wednesday that it was reintroducing a ban on petrol exports for another six months to "maintain a stable situation" on the domestic fuel market after major price hikes.

Ukrainian energy consumption hovered near record highs on Friday, increasing strains on the fragile power sector as nearly 500 settlements faced blackouts due to Russian shelling, air strikes, and bad weather, officials said.

Staff turned off the lights and started draining the pools at Hungary's famous Miskolctapolca cave baths on Monday, after the centuries-old attraction succumbed to a modern-day crisis - soaring gas prices.

Europe is facing an energy crunch as the price of electricity generation skyrockets because of a massive surge in gas prices caused by Russia turning off the taps.

In Austria, even the dead are getting help from the state to confront surging prices as Europe confronts an energy crisis following Russia's invasion of Ukraine.

Paris will switch off the Eiffel Tower's lights an hour earlier than normal, lower the water temperature in municipal pools and delay heating public buildings to save energy this winter, the city's mayor said on Tuesday.

The euro fell to a fresh two-decade low on Tuesday, dealt a fresh blow by renewed concern that an energy shock will keep inflation elevated and makes a recession in Europe all but certain.

Euro zone recession fears were exacerbated by concerns about an energy crisis in Europe and by Tuesday's data, which showed a sharp slowdown in business growth in June, following Monday's news of a seasonally adjusted May trade deficit in Germany versus expectations for a surplus.

Russia on Thursday restored critical gas supplies to Europe through Germany via the Nord Stream pipeline after 10 days of maintenance, but uncertainty lingered over whether the Kremlin would still trigger an energy crisis on the continent.

The rupee hit all-time lows early on Monday, trading beyond 77.40 per dollar driven by investors' preference toward safety as lockdowns in China, war on the edge of Europe and fear about higher interest rates sent a nervous jolt through markets.

Indian equities and the rupee face more tough times ahead after a broad slump since the war on the edge of Europe as stagflation, which was considered a threat and a fallout of the Russia-Ukraine crisis, is fast becoming a reality.

Indian equity benchmarks jumped on Thursday, riding higher on investor optimism driven mainly by a rally on Wall Street tracking robust US company earnings, but global economic growth fears, a slowdown in demand from China's stringent restrictions, and Europe's energy crisis persist.

Indian stock indices rose on Thursday on robust earnings from US technology companies, but an energy crisis in Europe and China's lengthy lockdowns kept the mood cautious.

With Russia threatening to cut off the supply of vital gas and oil, European governments are dusting off rationing plans that bring back memories of the 1973 energy crisis

India on Thursday defended its decision to look for "good deals" for its energy requirement amid volatility in the market, while pointing out that Europe has been a major buyer of Russian oil and gas even after the crisis in Ukraine unfolded.

The Russian government announced Wednesday that it was reintroducing a ban on petrol exports for another six months to "maintain a stable situation" on the domestic fuel market after major price hikes.

Ukrainian energy consumption hovered near record highs on Friday, increasing strains on the fragile power sector as nearly 500 settlements faced blackouts due to Russian shelling, air strikes, and bad weather, officials said.

Staff turned off the lights and started draining the pools at Hungary's famous Miskolctapolca cave baths on Monday, after the centuries-old attraction succumbed to a modern-day crisis - soaring gas prices.

Europe is facing an energy crunch as the price of electricity generation skyrockets because of a massive surge in gas prices caused by Russia turning off the taps.

In Austria, even the dead are getting help from the state to confront surging prices as Europe confronts an energy crisis following Russia's invasion of Ukraine.

Paris will switch off the Eiffel Tower's lights an hour earlier than normal, lower the water temperature in municipal pools and delay heating public buildings to save energy this winter, the city's mayor said on Tuesday.

The euro fell to a fresh two-decade low on Tuesday, dealt a fresh blow by renewed concern that an energy shock will keep inflation elevated and makes a recession in Europe all but certain.

Euro zone recession fears were exacerbated by concerns about an energy crisis in Europe and by Tuesday's data, which showed a sharp slowdown in business growth in June, following Monday's news of a seasonally adjusted May trade deficit in Germany versus expectations for a surplus.

Russia on Thursday restored critical gas supplies to Europe through Germany via the Nord Stream pipeline after 10 days of maintenance, but uncertainty lingered over whether the Kremlin would still trigger an energy crisis on the continent.

The rupee hit all-time lows early on Monday, trading beyond 77.40 per dollar driven by investors' preference toward safety as lockdowns in China, war on the edge of Europe and fear about higher interest rates sent a nervous jolt through markets.

Indian equities and the rupee face more tough times ahead after a broad slump since the war on the edge of Europe as stagflation, which was considered a threat and a fallout of the Russia-Ukraine crisis, is fast becoming a reality.

Indian equity benchmarks jumped on Thursday, riding higher on investor optimism driven mainly by a rally on Wall Street tracking robust US company earnings, but global economic growth fears, a slowdown in demand from China's stringent restrictions, and Europe's energy crisis persist.

Indian stock indices rose on Thursday on robust earnings from US technology companies, but an energy crisis in Europe and China's lengthy lockdowns kept the mood cautious.

With Russia threatening to cut off the supply of vital gas and oil, European governments are dusting off rationing plans that bring back memories of the 1973 energy crisis

India on Thursday defended its decision to look for "good deals" for its energy requirement amid volatility in the market, while pointing out that Europe has been a major buyer of Russian oil and gas even after the crisis in Ukraine unfolded.