Oil Prices Drop At The Start Of The Week As Trump Pushes OPEC For Price Cuts

by THEFUTURE.TEAM

January 27, 2025

Oil prices opened the week on a downward trend following a renewed call from US President Donald Trump urging the Organization of the Petroleum Exporting Countries (OPEC) to slash crude prices. The request came in the wake of his announcement of extensive measures to ramp up oil and natural gas production in the United States, according to Reuters.

Key Facts

As of 9 a.m. Bulgarian time, Brent crude saw a 49-cent drop, or 0.62%, settling at $78.01 per barrel. Meanwhile, US light crude followed suit, dipping 49 cents, or 0.66%, to $74.17 a barrel.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

What To Watch

Trump reiterated his demand on Friday, emphasizing that OPEC’s move to lower prices could exert financial pressure on Russia, which heavily relies on energy exports to fund its ongoing war in Ukraine. Additionally, Trump warned of further taxes, tariffs, and sanctions targeting Russia—and other nations involved—if the war persists without a resolution.

The Future Forbes Realty Global Properties

Cyprus Fuel Prices Jump 20.5% As Energy Costs Rise Across The EU

by THEFUTURE.TEAM

June 24, 2026

Cyprus recorded a 20.5% year-on-year increase in the prices of fuels and lubricants for personal transport in May 2026, according to Eurostat data released on Monday.

The increase was broadly in line with the European Union average of 20.7%, with fuel and lubricant prices rising across all EU member states during the period.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Cyprus Tracks The EU Average

Among EU countries, the largest annual increases were recorded in Bulgaria (33.9%), Luxembourg (32.2%), Lithuania (30.8%) and Romania (30.4%). At the other end of the scale, Hungary registered the smallest increase at 3.5%, while annual growth ranged from 12.7% in Poland to 29.2% in France across the remaining member states.

Eurostat noted that fuel and lubricant prices generally declined across the EU until February 2026 before moving higher in subsequent months.

Diesel And Petrol Follow Different Paths

Across the European Union, diesel prices increased by 29% in May 2026 compared with the same month a year earlier, while petrol prices rose by 16.2%. Monthly trends, however, were more mixed. Between April and May 2026, diesel prices across the EU fell by 5.8%, whereas petrol prices increased by 0.8%.

In Cyprus, diesel prices declined by 1.5% over the same period. Although lower than in April, the decrease was less pronounced than in Germany (-11.9%), Greece (-8.5%), Estonia (-8.4%) and Ireland (-8.1%).

Petrol prices moved in the opposite direction, rising by 2.1% between April and May. A similar pattern was observed across much of the EU, with 23 member states reporting monthly increases. Italy recorded the largest monthly rise in petrol prices at 6.9%, while decreases were reported in Germany (-5.6%), Ireland (-2.0%) and Sweden (-0.7%).

Breaking news