Russian President Vladimir Putin on Friday blamed the United States and its allies for blowing up the undersea Nord Stream pipelines, raising the temperature in a crisis that has left Europe racing to secure its energy infrastructure and supplies.

The EU on Friday will seek urgent ways to bring down skyrocketing energy prices as winter looms.

Nigeria has failed to capitalise on an oil price boom that has helped cushion other exporters from the impact of inflation, with millions more Nigerians now facing poverty.

EU leaders will discuss next week what the bloc has denounced as sabotage on the subsea Nord Stream gas pipelines, an EU official said on Thursday, adding that the incident had changed the nature of the conflict in Ukraine fundamentally.

The BoE intervention followed criticism Tuesday from the IMF, which argued that Britain's budget could increase inequality and worsen inflation.

European shares slid 1% on Wednesday, in line with a sell-off in Asian markets, as an intensifying energy crisis in the region and the relentless surge in global bond yields fuelled worries about a recession.

EU sees sabotage in gas pipe leaks, Norway hikes security

The right wing of the Conservative party has often demonstrated scepticism if not hostility towards renewables and the transition to a low-carbon economy.

Oil prices were mixed in early Asian trade on Wednesday as support from U.S. production cuts caused by Hurricane Ian contended with crude storage builds and a strong dollar.

The dollar weakened slightly against major rivals Tuesday, helping the pound to rebound from a record low, while equity markets stabilised after recent volatility.

Rocketing LNG cargo prices have squeezed out dozens of smaller traders, concentrating the business in the hands of a handful of international energy majors and top global trading houses.

Italian shares jumped nearly 1% on Monday, outperforming their regional peers as Telecom Italia and financial stocks advanced after the right-wing coalition led by Georgia Meloni looked set to win the country's general election.

Scholz signed the deal while on a Gulf tour that took him to the UAE, Saudi Arabia and Qatar hunting for new energy sources.

Britain's Shell, Italy's ENI and US giants ConocoPhillips and ExxonMobil have already signed up to be part of North Field East.

The UK had in 2019 called a halt to fracking -- or hydraulic fracturing which is used to release hydrocarbons locked deep underground -- due to fears it could trigger earthquakes.

Britain on Wednesday announced a six-month plan to pay about half of energy bills for businesses.

Norway's central bank raised its benchmark interest rate by a widely-anticipated 50 basis points to 2.25% on Thursday, but said future hikes would be more "gradual", weakening the country's crown currency.

Brent crude futures fell 16 cents, or 0.2%, to $89.67 per barrel by 0013 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 15 cents to $82.79 per barrel.

Truss became the latest Western leader at the UN General Assembly in New York to rail against Russian President Vladimir Putin, who hours earlier mobilized reservists in a clear sign he is in no rush to end the conflict.

European shares traded in a narrow range on Wednesday as investors digested Russia's first mobilisation since World War Two while they waited for the U.S.

Germany nationalised gas importer Uniper on Wednesday and Britain capped wholesale electricity and gas prices for businesses, as Europe splurged cash to keep the lights and heaters on this winter amid an escalating war in Ukraine.

Germany confirmed the nationalisation of struggling gas importer Uniper at a cost of 8 billion euros ($7.9 billion) on Wednesday as it scrambles to secure power for Europe's largest economy after Russia cut back supplies.

Europe's problems in sourcing oil and gas this winter after a dispute with Russia may be exacerbated by a new crisis in the market where prices are already red-hot: a liquidity crunch that could send them spiralling higher still.

European governments outlined new measures on Monday to cope with potential energy shortages this winter and raced to improve energy networks to share power, with Russian gas flows still running at severely reduced rates amid the Ukraine war.

Oil prices climbed during early Asian trade on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears of a global recession that could dampen fuel demand.

The German subsidiary of Russian oil giant Rosneft was placed under trusteeship on Friday, giving Germany's federal regulator control of the PCK refinery in Schwedt, a key source of fuel for the city of Berlin.

Shell on Thursday announced the exit of chief executive Ben van Beurden as the British oil and gas giant looks to reinvent itself under group renewables boss Wael Sawan.

Dutch lender ING said five of the highest-emitting sectors it services, such as power and autos, were on track to meet new, tougher climate targets, although others such as residential property were lagging.

Shell says CEO stepping down at end of 2022

Oil prices edged upwards in early Asian trade on Thursday, as supply concerns and a looming rail stoppage in the United States, the world's biggest crude consumer, supported markets.