Oil and gas firms say EU methane rules will force them to stop exporting to Europe. The Commission thinks they’re bluffing.

Oil and gas firms say EU methane rules will force them to stop exporting to Europe. The Commission thinks they’re bluffing.

EU pauses methane penalties to secure energy supply amid crisis. Crude oil reaching a new all-time high by December 31 at 12.5% YES.

Reuters: EU waives penalties for oil and gas firms that breach methane lawThe European Commission instructed EU governments to waive penalties for three years for oil and gas…

Traders fear that they’re going to need to permanently price in instability in the Strait of Hormuz as shortages loom and Asian demand heats up.