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The Latest Breaking News from Oil

Cost of Fuel Exceeds Minimum Wage in Lebanon

The price of a 20 liters of fuel crossed the minimum wage in Lebanon for the first time since the eruption of the country's economic crisis. The cost of fuel reached 700,000 Lebanese pounds, or 25 dollars, on Saturday, while minimum wage stands at 675,000 LL. The cost of fuel…

Asharq Al-Awsat

The AP Interview: Sri Lanka PM says he's open to Russian oil

Sri Lanka’s prime minister says he may be compelled to buy more oil from Russia as he hunts desperately for fuel to keep the country running

The Independent UK

Can MENA countries fight climate change the same way?

With Egypt’s COP27 six months away, experts are calling attention to the MENA region’s transition to clean energy.

Al Jazeera

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Lismore residents whose homes were covered in oil from Boral asphalt depot after floods left with daunting clean up

Months after deadly floods inundated large parts of New South Wales, people in South Lismore are left with homes covered in a sticky oily residue from a disused construction site.

ABC News

Several factors are converging to push gas prices higher

Gas prices are hitting $5 a gallon, and they're showing no signs of letting up

The Independent UK

Joe Biden accuses oil industry of making ‘more money than God’ as petrol prices hit record highs

Joe Biden has accused the US oil industry of making “more money than God” as petrol prices in the country averaged more than $5 a gallon for the first time.

Evening Standard

Gas hits $5 a gallon for the first time. Here's how it got here and what's ahead

Gas prices could rise even further after hitting an average national price of $5 a gallon for the first time. Here are 4 things to know

WEKU

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Iran, Venezuela Sign 20-Year Cooperation Plan

Iran and Venezuela on Saturday signed a 20-year cooperation plan, according to live coverage on Iranian state TV. The plan includes cooperation in the fields of oil, petrochemicals, tourism, and culture. The signing ceremony was held in North Tehran’s Saadabad Palace in the presence of visiting Venezuelan President Nicolas Maduro…

Asharq Al-Awsat

Politicians Reject Nasrallah’s Rhetoric on Maritime Border Dispute with Israel

Recent threats of war by Hezbollah Secretary General Hassan Nasrallah over Israel’s oil exploration in disputed maritime waters have sparked a wave of criticism in Lebanon, especially with the arrival of a US mediator to Beirut to resume the border demarcation negotiations. In a radio interview, MP Marwan Hamadeh underlined…

Asharq Al-Awsat

Iran says oil sales strong despite effect of Ukraine war

Iran’s petroleum ministry has said it won’t lose customers even as China buys more oil from Russia.

Al Jazeera

4 charred to death, 1 critical after oil tanker explodes in Odisha’s Nayagarh

The oil tanker plunged into a small river after it hit the barricade of Badapandesara Bridge near Nayagarh district headquarter town around 1.30 a.m. on Friday

The Hindu

Food export bans in Asia prompt fears of more protectionism

As Russia’s invasion of Ukraine helped push global agricultural prices to soaring heights, some Asian governments restricted the export of products they viewed as essential to domestic food security.

Bangkok Post

Amazon is selling a ton of these cheap products with near-perfect reviews

The highly-rated products on this list are selling fast on Amazon.

Inverse

'Stupid' gas policies led to energy crisis in eastern states, say former premiers

With WA's policy of quarantining 15 per cent of gas for its local market bearing fruit, former rivals and premiers Alan Carpenter and Colin Barnett say the east coast gas crisis was avoidable.

ABC News

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Bangkok Post

Fears of rate hikes continue to pressure equities

Recap: World stocks fell on Friday as news of imminent rate hikes from the European Central Bank and concerns over upcoming US inflation data spurred fears over global economic growth.

Bangkok Post

Cautious investing key for the near future

After starting May at 1,667.44 points, the SET closed out the month back near the same level at 1,663.41. The first half of the month saw a fairly sharp downtrend to a low of 1,584.38. But this was followed by a solid rebound in the second half, peaking at 1,663.41…

The Times of India

India’s crude cost hits a decade high

NEW DELHI: India’s crude cost rose to $121.28 per barrel on Thursday, the highest since March 9, 2012 when it had hit $125.13. This has pushed the monthly average in June to $118.34 per barrel, a level last seen in April 2012 when the price averaged $118.64.

Bristol Post

Extinction Rebellion to march through town in protest at Jacob Rees-Mogg backing oil

"Jacob Rees Mogg's comments are 'reckless'"

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Reuters

Familiar faces in presidential race promise new ways to fix Nigeria

Two political veterans in their 70s are vying to be Nigeria's next president, promising pro-business policies to revamp Africa's largest economy by fixing its oil sector and curbing widespread security threats.

Salon

Your guide to air frying chicken cutlets

Don't feel like standing over a hot vat of bubbling oil? There are other ways to get crispy chicken

Edinburgh Live

Entrance to historic West Lothian house would be spoiled by new home, officials claim

Councillors rejected proposals to build in the grounds of an Edwardian villa built as home to one of the county's shale oil pioneer families.

The Conversation

Biden just declared heat pumps and solar panels essential to national defense – here's why and the challenges ahead

Solar panels, heat pumps and hydrogen are all building blocks of a clean energy economy. But are they truly “essential to the national defense”?

Daily Mirror

Petrol prices around the world - how UK compares as some sell for LESS than 1p a litre

The UK has experienced all-time high petrol prices, driving customers to pay a staggering £100 or more for a fill-up. Some places around the world still charge very little, so here's why the UK is different

Daily Mirror

Man has arm ripped off by two 16ft crocodiles as he washes hands in infested waters

Ilham, 49, was driving when he tried to wash his oily hands in a pool of water inhabited by a group of crocodiles at Sinka Zoo in Indonesia on Thursday - ending in his arm being ripped off

Daily Mirror

Martin Lewis explains how to find cheapest petrol prices near you as driving costs spiral

With the cost of filling up topping £100 a tank for the first time, MSE's Martin Lewis said there are websites that can help by showing the best places to fill up near you

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