Europe

Shipping data from Friday showed that only five ships have passed through the Strait of Hormuz, including an Iranian oil tanker. This is after Iran seized two container vessels this week, and the U.S. has continued to blockade Iranian ports. The shipping traffic that passes through the 'crucial waterway' at the entrance to?Gulf? during an uneasy ceasefire, between Washington and Tehran, represents only a fraction the 140 average daily passages prior to the Iran War beginning on February 28, 2008. "Most shipping companies will need to have a stable ceasefire, and both sides of conflict must reassure them that the...

According to the EU official journal, new European Union sanctions will prohibit condensate imports from Yamal LNG as well as other Russian projects that produce light fuels?as a byproduct of?their?liquefied... production?from 1 January 2027. The European Union approved on Thursday an official 90 billion-euro loan ($105 billion) to Ukraine, and new sanctions against Russia in advance of a informal summit of the leaders of the EU in Cyprus. As U.S. peace talks, mediated by Washington, have been paused due to the focus of the United States on the war against Iran. Since December 2022, the EU has banned?Russian oil imports...

Here are some company news and stories that could impact the markets in France and Benelux or individual stocks. ACCOR: The French hotel group Accor announced Q1 revenues of 1,31 billion euros - with RevPAR increasing by 5.1%. They noted that the Iran War had a greater impact on Middle East business activities from mid-March. ADYEN: Dutch payment?company Adyen has announced that it will acquire Talon.One in exchange for 750 million euros. The company also reported a 20% increase in revenue during the first quarter, reaching 628.8 millions euros. AEROPORTS de PARIS (ADP), Groupe ADP, a French airport operator, announced...

A government document published on Thursday showed that Italy expects to earn a revenue of?0.8% or?19.21 billion euros from the sale of state assets through 2028. Sources familiar with Rome's thinking on the issue said that Rome is considering options such as selling stakes in the air traffic controller ENAV and the bailed-out bank Monte dei Paschi di Siena. In its multi-year plan (DFP), the Treasury stated that asset sales of 0.2 percentage points will be factored into projections for debt-to GDP ratios this year. This figure is expected to rise to 0.5 percentage points in 2027, and 0.1 percent...

FC Chernihiv, of Ukraine's second-tier league, reached the final of the Ukrainian Cup after beating Metalist 1925 on penalties following a goalless semi-final on Wednesday. Chernihiv was reduced to 10 men when defender Pavlo Shusko was sent off after only five minutes. Metalist, who had 31 shots, including 13 on goal, was able to score once, but it was disallowed for offside. Maksym?Tatarenko led Chernihiv?to a?6-5 victory in the penalty shootout and brought the club into the Ukrainian Cup finals for the first ever. Chernihiv also defeated Mariupol after their quarter-final match ended in a goalless draw. The Ukrainian Football...

Amsterdam's Schiphol Airport will offer a temporary 10% discount on airport fares to help offset the higher fares caused by the Middle East conflict. Schiphol will temporarily offer 10% off airport charges from April 27, 2027 to March 31, 2020. Schiphol is one of Europe's busiest airports and also the most expensive. The 10% discount will only be available for daytime flights. The airport said that it was taking the measure as airlines' costs had risen sharply and unexpectedly due to high kerosene. Airport Schiphol said that the measure would have a "temporary" negative impact on Schiphol’s financial results. However,...

Emergency services reported that two?local trains collided in the same direction?northeast of the 'Danish capital of Copenhagen? on Thursday. The collision injured 17 people. Five of them were in critical condition. Rescue services described "chaotic scenes" inside two yellow and gray trains. Both had visible damage on the front and were facing each other, in a wooded region. The two trains collided, causing them to suffer large damages and sending glass everywhere," said Christoffer Buhl?Martekilde, the leader of the fire and rescue services. Police spokesperson stated that it was still too early to determine the cause of the accident, but...

Two industry sources?said that the Russian Tuapse refinery, which exports a majority of its products, has ceased operations after a drone attack by Ukraine on April 16th. Ukraine increased its attacks on Russia's infrastructure, as the U.S., who had mediated peace talks with Russia to end the conflict, shifted its focus?to the war in Iran. The U.S. has also lowered some sanctions against Russian oil in order to help reduce the impact of the supply disruptions in the Gulf. According to Russian officials the 'attacks on 16 April and 20 April 'on the city of Tuapse, on the Black Sea...

Baltic Exchange, who tracks and evaluates freight rates, proposed Monday amending their'methodology for all Middle East benchmarks. They cited the escalating geopolitical disturbance in the Strait of Hormuz and the wider Middle East area. The exchange wants immediate feedback about a proposal that would allow flexibility in the method?and include an area or port outside of the Middle East Gulf region. The original option of loading at a port within the region will continue. The Baltic Exchange's indexes and assessments can be used to settle freight derivatives trades, benchmark physical contracts, or as an overall indicator of the performance of...

Portugal is confident that there will not be any jet fuel shortages at the country's airports during the holiday travel season, despite fears among European airlines. Miguel Pinto Luz, the Portuguese Minister of Infrastructure, told reporters that his government is in touch with oil companies. He said they "know what stock levels are available at national airports", but refused to reveal them. European airlines warned that a 'war in Iran' could lead to a shortage of jet fuel, since Europe relies on Middle East imports for 75%. "It's a problem on a 'European scale. We are closely monitoring the situation....

Heathrow Airport's expansion plans are moving forward, and the aviation regulator in Britain has proposed that Heathrow Airport be allowed to recover up to 320 million pounds ($432.83 million) of early costs. The proposal is part of a broader initiative by 'Britain to improve aviation infrastructure, address long-standing capacity issues at Europe's busiest Airport and ensure consumer protections are maintained during the costly planning phase. The Civil Aviation Authority (CAA), said that the plan to allow Heathrow Airport a recoupment of costs incurred in 2025 and 2026 will help it fund the planning and design work to expand its airport....

Russian officials said that a major Ukrainian drone strike on Russia's Black Sea Port of Tuapse caused a fire, and at least one person was killed. This comes just hours after the blaze?was extinguished in the aftermath of a similar attack?on April 16th. Tuapse, one of Russia's most important southern ports, is an oil export hub. It also handles dry bulk cargo, including coal and fertiliser. It is also home to the Rosneft-owned major oil refinery with the same name. Veniamin kondratiev said that Tuapse had been subjected to a'massive drone strike,' on the messaging app Telegram. "A fire broke...

The Moldovan parliament has voted to lift the energy'state of emergency' from Saturday. This was 'imposed' after Russian 'attacks' in neighbouring Ukraine knocked down a powerline that provided most of Moldova's electricity needs. Officials in Moldova have stated that the Russians attacked in March, putting out of action the Isaccea - Vulcanesti power line. This line carries electricity?from Romania into Moldova, passing 40 km (25 miles) through Ukrainian territory. This line is responsible for up to 70% of Moldova's electrical needs. The 101-member chamber of deputies voted 69 times in favor of lifting the emergency measure. The declaration of an...

Early on Friday, Russian diplomats denounced 'latest European Union Sanctions' imposed on Moscow for its invasion of Ukraine. They said the newest measures were 'unlawful and lacked U.N. The new measures lacked legitimacy and violated the rights of a third country. Russian news agencies reported that diplomats from Russia's European Union mission said the?measures are meaningless without a U.N. Security Council decision. The statement was quoted by TASS, a state news agency. All others are unilateral coercive actions, and in essence -- arbitrariness or aggression which is contrary to international law and U.N. Charter. Charter." RIA News Agency said that...

Two sources said on Thursday that President Donald Trump plans to nominate a business executive with extensive experience in government contracts as the head of the Transportation Security Administration. Trump is planning to hire?David Cummins. He oversees Serco North America's federal, state and local government customer portfolio. Trump had proposed earlier this month to privatize much of the TSA operations and cut nearly 10,000 workers. Trump has not nominated anyone to replace David Pekoske as TSA head since his first day of office in 2025. Pekoske was nominated by Trump during his first term and Joe Biden, the former president,...

Siemens Energy raised its forecast for 2026 on Thursday after a rise in orders and profits in the second quarter. The company joined peers in benefiting a surge of demand for data centers that require power equipment supplied by Siemens Energy. Siemens Energy cited "positive business developments" and strong market demand to increase its sales forecast from 11-13%. It also increased the profit margin for special items from 9-11% to 10-12%. The surge in demand for grid components and gas turbines, fuelled by energy hungry?data centres has also seen U.S. competitor GE Vernova increase its annual'revenue and profit estimates' on...

According to economists and government officials, Kyiv could need additional money this year to meet its military needs. Ukraine's budget projects a huge deficit of 1.9 trillion hryvnias (43 billion dollars) by 2026, which is around a fifth of its economic output. However, economists claim that this figure significantly underestimates the costs of the?war against Russia. Maksym Samoiliuk, an economist at Kyiv's Centre for Economic Strategy (a?think tank), said that military spending will be assessed more realistically now that the delayed loan has been approved. This is because factors like a pay increase for military personnel expected this summer can...

Three trading sources have told? that spot premiums for Russia’s Far East ESPO blend crude oil delivered to China in Junehave eased due to weak refining margins. Sources said that ESPO Blend cargoes for June delivery were trading at $5 - $6 per barrel over ICE Brent, on a delivered basis, into Chinese ports. This compares to premiums of $8 per barrel in May. The premiums are dependent on the supplier and shipment conditions, but traders have noted a weaker demand. The drop in prices came despite a stronger global demand for Russian crude since early March, after the Iran...

The Economy Ministry of Slovakia announced that Slovakia began receiving crude oil via the Druzhba Pipeline early on Thursday. This confirmed the end of the outage, which lasted for months after a Russian attack on the pipeline, according to Ukraine. The Economy Ministry announced that at 2 am (0000 GMT), the reception of oil into Slovakia via the Druzhba pipe was resumed. Since the halt of Russian oil deliveries to Hungary and Slovakia, in January, the Druzhba?pipeline is one of Europe's most political pieces of?infrastructure. The oil flowing through the Ukrainian portion of the pipeline began on Wednesday. This prompted...

Two industry sources said that the Caspian Pipeline Consortium plans to export 1.8 million barrels of CPC Blend crude per day in May, up from 1.65 million barrels expected in April. This is because Kazakhstan will divert oil from Russia's Druzhba Pipeline Oil previously scheduled for Germany. Calculations show that May loadings will rise daily by?9% compared to April and reach a record for a number of months. Alexander Novak, Russia's deputy prime minister, said that from May 1, the Druzhba Pipeline will be diverted onto other routes. According to two sources, volumes rerouted out of?Druzhba are expected to enter...

Officials said that Russian oil began flowing through the Ukrainian portion of the Druzhba Pipeline on Wednesday, after a halt which lasted months. This allowed Hungary to lift its veto over a 90 billion euro ($105.79billion) EU loan, which Kyiv urgently needs. Since a Russian drone attack damaged the Druzhba pipe in western Ukraine, and stopped Russian oil delivery to Hungary and Slovakia, the Druzhba has become one the most political pieces of infrastructure across Europe. The Hungarian oil company MOL announced on Wednesday that Ukraine informed them that Russian crude deliveries had resumed via the pipeline. MOL said that...

After Hungary lifted its veto on Wednesday, EU ambassadors approved the disbursement a?90 billion euro ($106billion) loan to Ukraine, as well as a?new?package? of sanctions against Russia. A spokesperson for the Cypriot Presidency said that the 27 EU member states will now be expected to approve the deal on Thursday afternoon. Last year, the EU approved a loan that would keep Ukraine solvent through 2026 or 2027. Hungary refused to approve the loan because Viktor Orban, the Prime Minister of Hungary and a Russia-friendly politician, accused Ukraine of sabotaging Russian oil transit through a pipeline that was damaged by Russian...

In recent months, Ukraine has intensified its attacks on Russian energy installations as the peace talks failed to progress. Here is a brief summary of the recent attacks and their impact. Two industry sources have confirmed that Rosneft’s Syzran refinery, owned by Rosneft, has suspended oil refining following drone attacks on 18 April which damaged processing equipment. The Syzran refinery can process around 170,000 barrels of oil per day, or 8.5 million tons per annum. According to industry sources, it processed 4.3 millions tons of crude oil in 2024 and produced 800,000 tonnes of gasoline, 1,5 million?tons diesel, and 700,000...

Norway announced on Wednesday that it will halt the 'allocation of power grid connections' to major industrial plants located in its Arctic region due to a 'capacity constraint caused by a burgeoning plan for new consumption from industries like data centres. Statnett, the national transmission grid operator, said that the temporary stop on processing new requests over a threshold of 5 megawatts (MW) applies to the area north of Svartisen near the city Bodoe. Statnett's Head of System Planning, Gunnar Lovaas said that "the electricity demand from Svartisen to the north will grow so rapidly in the coming years, the...