On February 10th, Russia announced it would slash its output by half a million barrels a day. The decision led to a significant uptick in bullishness in the options market, while firming up timespreads.

The European Union has imposed a ban on almost all seaborne imports of Russian refined fuels from February 5, two months after imposing a prohibition on crude oil.

Through its Carbonloop subsidiary, Climate Horizon plans to install units that produce synthetic gas and hydrogen by heating wood residues at extreme temperatures.

Acquiring Roundup as part of the deal to take over Monsanto has embroiled Bayer in costly litigation over allegations the weedkiller causes cancer, a charge the company denies.

Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion.

Environmentalists have blamed the fuel — along with other factors like crop burning, construction dust and vehicle emissions — for the country’s toxic air that reaches alarming proportions every winter.  

The EU will still get more than a quarter of its diesel imports — around 612,000 barrels a day — from Russia even in January.

The winner in the shake-up appears to be refiners in Asia, who are seeing shipments from Canada surge to the highest in more than a year.