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Christine Lagarde, President of the European Central Bank smiles during a press conference following a meeting of the governing council in Frankfurt, Germany, Thursday, July 21, 2022. (AP Photo/Michael Probst)

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Europe's central bank backs larger-than-expected rate hike
By DAVID MCHUGH - AP Business Writer
Thu,07/21/22-5:18AM , 220 Reads
FRANKFURT, Germany (AP) — The European Central Bank raised interest rates Thursday for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the U.S.
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A worker at a Ukrainian gas station Volovets in western Ukraine on Oct. 7, 2015. European governments are scrambling to reduce their energy dependency on Russia and bracing for potential disruption to critical natural gas supplies as the war in Ukraine sends prices to record highs. Natural gas prices hit a new record high Thursday as restrictions on oil and gas supplies — either through Western sanctions or Russian retaliation — was increasingly treated as a possibility on the eighth day of the war. (AP Photo/Pavlo Palamarchuk, File)

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Russian energy: Europe scrambles to reduce its dependency
By DAVID MCHUGH - AP Business Writer
Thu,03/03/22-7:01AM , 336 Reads
FRANKFURT, Germany (AP) — Europe is scrambling to reduce its dependence on Russia for energy and bracing for potential disruption to critical natural gas supplies as Russia's war
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A pumping unit sucks oil from the ground near Greensburg, Kan. on March 6, 2012. The International Energy Agency says all 31 member countries have agreed to release 60 million barrels of oil from their strategic reserves “to send a strong message to oil markets” that there will be “no shortfall in supplies” as a result of Russia’s invasion of Ukraine. The IEA board made the decision Tuesday, march 1, 2022 at an extraordinary meeting of energy ministers chaired by U.S. Energy Secretary Jennifer Granholm. (AP Photo/Charlie Riedel, File)

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Nations agree to release 60M barrels of oil amid Russian war
By DAVID MCHUGH - AP Business Writer
Tue,03/01/22-10:15AM , 257 Reads
FRANKFURT, Germany (AP) — The International Energy Agency's 31 member countries agreed Tuesday to release 60 million barrels of oil from their strategic reserves — half of that from the United States — “to send a strong message to oil markets” that supplies won't fall short after the Russian invasi
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A worker at a Ukrainian gas station in Volovets, western Ukraine, on Oct. 7, 2015. The gas is still flowing from Russian even as bullets and missiles fly in Ukraine. But the war is raising huge questions about the energy ties between Europe and Russia. The conflict is helping keep oil and gas prices high due to fears of a possible reduction in supplies, and consumers will continue to face financial stress from that. (AP Photo/Pavlo Palamarchuk, File)

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EXPLAINER: What does Ukraine invasion mean for energy bills?
By DAVID MCHUGH - AP Business Writer
Fri,02/25/22-10:10AM , 222 Reads
FRANKFURT, Germany (AP) — Even as gunfire sounded in Ukraine's capital, natural gas kept flowing normally Friday through the major pipelines from Russia to Europe.
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