Bloomberg Russian markets were paralysed and traders struggled to price the ruble as international sanctions shook the country’s financial system. The Russian currency lost a third of its value in offshore trading at one point and hit an all-time low of 109.185 per dollar in Moscow. Quotes were infrequent and volatile at the start of the session, and traders …

  Bloomberg Saudi Arabia’s state oil company discovered five new natural gas fields across the kingdom that can produce over 100 million cubic feet per day in total, as the oil-rich kingdom looks to boost production of the fuel. The fields, discovered by Saudi Aramco, are located in the country’s central region, the empty quarter desert, the northern border region …

Bloomberg Europe’s biggest industrial firms have been banking on spring to bring down soaring energy costs. Those hopes faded this week as Russian tanks rolled into Ukraine. Smelters and chemical factories across Europe were already struggling before the invasion sparked another jump in gas and electricity prices. Now, a growing list of companies including Europe’s biggest chemicals maker BASF SE …