The United States will probably enter a recession if oil prices continue to soar and surpass $200 a barrel, Goldman Sachs chief economist Jan Hatzius said on Thursday. “We estimate that it would take a sustained oil price increase to $200 per barrel to produce an income shock similar in magnitude to those that precipitated…

India’s largest oil and gas company, Indian Oil Corporation (IOC), bought three million barrels of Urals crude oil from Russia on Wednesday, the Deccan Herald newspaper reported citing trade sources.

The German Association of Energy and Water Industries (BDEW) has called for an agreement at the European level on an emergency protocol in response to Moscow’s announcement of a new gas payment mechanism.