Russia’s War Will Destroy Its Energy Market, Maybe Forever
The invasion of Ukraine is spurring Europe’s switch to homegrown energy and hitting global growth, a combination set to slash the market for Russian resources.
Replacing Russia.
Photographer: Chris Ratcliffe/Bloomberg
Welcome to Elements, our daily energy and commodities newsletter. Today, Bloomberg Oil Strategist Julian Lee looks at the prospects for Russia’s oil and gas industry. Meanwhile, New York is snapping up vast quantities of motor fuels from India, and Americans are facing steep price hikes for their hamburgers. If you haven’t yet signed up to get Elements sent directly to your inbox, you can do that here.
Wars have long-lasting impacts that reach far beyond the territories on which their battles are fought. Russia’s invasion of Ukraine is no exception.