War in Ukraine sets energy prices in motion
After Russia's attack on Ukraine, oil and gas markets react with sharp swings.
By the editors25 February 20223 min read
Russia attacked Ukraine on 24 February 2022. Energy markets responded immediately with sharp price swings in oil and natural gas.
Europe is particularly exposed because a substantial share of its gas imports had come from Russia. Industry and utilities are reassessing procurement risks.
The German government announced plans to reduce its dependence on Russian energy. How quickly that can happen remains open.