Bloomberg Oil has started off 2022 with a bang. A market that was supposed to suffer a ballooning surplus instead surpassed $80 a barrel last week as global demand shrugs off the Omicron variant, while a host of supply constraints hit producers from Canada to Russia. With investment banks calling for higher prices, and options contracts invoking the prospect …

  Bloomberg UK households face a $24 billion spike in their energy bills in April, and the government is running out of time to do something about the biggest reason why: ballooning wholesale costs. Finding a way to help energy companies lessen that 18 billion-pound jolt, or at least spread it over several years, would be the most effective option, …

  Bloomberg Norway boosted an aid program to offset soaring electricity costs for a second time in less than a month, citing the “socially unjust” effect of high prices on households. The state will cover 80% of power costs when the market price for electricity is above 70 Norwegian ore ($0.08) per kilowatt hour in the January to March period, …