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The Latest Breaking News from Oil

Decommissioned oil rig arrives to be transformed into art installation

The disused structure will be covered in plants and trees and feature a 10-metre waterfall

The Independent UK

Biden in Middle East to strengthen ties in wake of global crises

US President Joe Biden will visit Israel and Saudi Arabia. Israel expects the US to be firmer with Iran, while the visit to Saudi Arabia marks a diplomatic U-turn.

Radio France Internationale

'Festival of Brexit' rusty oil rig arrives off British coast as part of art project

Feature of UNBOXED: Creativity in the UK

Wales Online

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Explainer: Sri Lanka's turmoil

Sri Lanka has declared a state of emergency after the crisis-hit nation's president fled to the Maldives, with protesters also demanding the prime minister quit.

Bangkok Post

Moisturising In The Shower Is The #1 Winter Hack I Swear By To Soothe My Seriously Dry Skin

Let me pass on my flakes of knowledge.

Pedestrian.tv

U.S., Europe working out details on Russian oil price cap -U.S. official

The United States is holding "detailed discussions" with the European Union and United Kingdom to iron out specifics of a price cap on Russian oil, National Security Adviser Jake Sullivan said on Wednesday.

Reuters

How to make the perfect meat-free spaghetti carbonara – recipe

How to recreate the salty, chewy pork bits of a carbonara? How do you sub egg and cheese? Luckily, our resident perfectionist has tested all the options to melty perfection …

The Guardian - UK

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Torpedo destroyed on Scapa Flow seabed just metres from oil pipeline

A five-strong Explosive Ordnance Disposal team travelled 400-miles north from their base at Faslane to reach the scene near Orkney on Friday.

Daily Record

Asian stocks, crude bounce from losses despite recession fears

Asian stocks fought back Wednesday to recover some of the losses suffered at the start of the week, while oil also bounced from a rout, though recession alarms continue to ring loud.

Bangkok Post

OPEC Sees Slower 2023 Oil Demand Growth

OPEC expects global oil demand to rise in 2023 but at a slower pace than 2022, the producer group said in its first forecast for next year, citing still robust economic growth and progress in containing COVID-19 in China. In a monthly report on Tuesday, the Organization of the Petroleum…

Asharq Al-Awsat

EXPLAINER: What's happened and what's next in Sri Lanka

Sri Lanka’s president, who had announced he would resign Wednesday, has fled the country after months of turmoil culminated in protesters converging on the presidential palace

The Independent UK

Libya's GNU to Replace Oil Chairman Sanalla

Libya's Government of National Unity (GNU) moved to replace the National Oil Corp (NOC) chairman and board on Tuesday as control over the state energy producer was drawn further into a complex political standoff between rival factions. According to the text of the decision confirmed to Reuters by a GNU…

Asharq Al-Awsat

Northern Italy drought threatens olive oil, risotto rice and passata supplies

The region’s worst drought in 70 years is expected to hit crop yields significantly, driving up prices by as much as 50%

The Guardian - UK

Oil Edges Higher; Market Wary of US Inflation Data

Oil edged up on Wednesday, a day after it fell through $100 a barrel for the first time since April, while traders looked towards US inflation data that could weaken the market. Brent crude futures were up 24 cents, or 0.2%, at $99.73 a barrel at 0325 GMT. US West…

Asharq Al-Awsat

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The Independent UK

US, allies aim to cap Russian oil prices to hinder invasion

Leaders of the Group of Seven industrial nations have tentatively agreed to back a cap on the price of Russian oil, the main pillar of the Kremlin’s financial revenue

Reuters

Biden savors Israel 'homecoming' as high-wire Saudi leg looms

Israel embraced U.S. President Joe Biden as an old friend on Wednesday at the start of a high-stakes visit dominated by efforts to bring Israel closer to Saudi Arabia and persuade Washington's Gulf allies to pump more oil.

The Times of India

June 28 tragedy: ONGC staff battled rough seas for 2.5 hours before they were pulled out, say sources

MUMBAI: A delayed rescue operation in inclement weather may have cost four lives after a Pawan Hans helicopter made an emergency landing near an ONGC rig last month, reports Manju V. When the chopper landed off Mumbai High on a rough sea, the occupants managed to unfasten seat belts, open…

Tribune News Service

Biden’s woes at home loom over Mideast trip that’s all about oil

President Joe Biden will seek to salvage relations with Saudi Arabia and boost Israel’s beleaguered government in a Mideast trip that risks political embarrassment unless near-record U.S.. gasoline prices swiftly come back to Earth.

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news in one place.

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ABC News

ASX rises, RBNZ hikes rates, US dollar hits parity with euro

Australian shares have ended the session higher on Wednesday, despite mining and energy stocks being hit by subdued commodity and metal prices following fresh COVID-19 curbs in China.

Bangkok Post

PTT to give Oil Fund B3bn boost

National oil and gas conglomerate PTT Plc has decided to allocate 3 billion baht to the fast-dwindling Oil Fuel Fund, following its months-long support of the diesel and liquefied petroleum gas (LPG) price subsidy programmes.

Benzinga

Integrating Cannabis Supply Chains: Meet Luis Merchan Of Flora Growth, A Globally-Expanding Cannabis Company

Flora Growth Corporation (NASDAQ: FLGC), a vertically integrated cannabis company, entered the industry intending to become the world’s largest producer of low-cost, naturally grown medicinal-grade cannabis oils and extracts i

WEKU

Biden's Middle East trip aims to shore up a relatively calm moment in the region

In his visits to Israel and Saudi Arabia this week, President Biden will aim to keep the oil flowing and lock in progress on the Middle East's simmering conflicts.

StockNews.com

3 Energy Stocks to Buy and 1 to Avoid in July

Oil prices might soar higher as demand continues to outstrip supply. And we think energy stocks Adams Resources & Energy (AE), TotalEnergies (TTE), and Devon Energy (DVN) are well-positioned to benefit from the industry tailwinds and might be solid buys. However, as oil prices have receded lately on recession fears,…

Benzinga

Crude Oil Prices Fall Sharply; Greenwich LifeSciences Shares Spike Higher

U.S. stocks traded mixed toward the end of trading after recording losses in the previous session.

The Times of India

Current account deficit likely to touch $105 billion this fiscal: Report

MUMBAI: The country's current account deficit is likely to touch $105 billion or 3 per cent of the GDP this fiscal, mainly due to continuously widening trade deficit, according to a report.

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