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The Latest Breaking News from Oil

Cost of filling up family car hits £100 as fuel prices rocket to new record high

The RAC are calling it a 'dark day for drivers' as the cost of petrol has officially topped a tonne per tank for the first time in UK history - with diesel prices sitting even higher.

Chronicle Live

Current account deficit likely to hit three-year high at $43.8 billion in FY22

Exports could face significant headwinds from rising uncertainty and volatility in the global economy primarily because of the spike in commodity prices, especially crude oil after Russia invaded Ukraine

The Hindu

Why filling up the average family car in the UK has topped £100

Explainer: Average cost of 55-litre tank of diesel or petrol is more than £100, adding to squeeze on finances

The Guardian - UK

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La buena comida: eight of Spain’s best local foods

From Asturias to Andalucía, food writer Fiona Dunlop shares the most delectable and distinctive Spanish dishes and delicacies

The Guardian - UK

Factbox-Surging food prices fuel protests across developing world

The war in Ukraine and drought fuelled by climate change has sent global prices for grains, cooking oils, fuel and fertilizer soaring.

Reuters

The Standard View: With the economy set to flatline, where’s the plan for growth?

It’s official, the cost of filling up an average tank of petrol has hit £100, driven by the continued surge in oil prices.

Evening Standard

3 Stocks Under $2 Insiders Are Aggressively Buying

US crude oil futures traded higher this morning on Thursday. Investors, meanwhile, focused on some notable insider trades. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment…

Benzinga

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Iran expects confiscated oil cargo to be returned in full - envoy

Iran expects an oil cargo confiscated by Greece to be returned in full, the semi-official Tasnim news agency reported Tehran's ambassador to Athens as saying on Thursday, following a Greek court ruling quashing the original decision to confiscate it.

Reuters

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Evening Standard

Greece: Appeals court overturns seizure of Iran tanker's oil

A court in central Greece has overturned a ruling that authorized the confiscation of crude oil from an Iranian-flagged tanker at the center of a volatile dispute over international sanctions

The Independent UK

Canada’s oil sands: why some of the world’s dirtiest fuel is now in hot demand

Can America’s biggest oil supplier grant energy security to the US without derailing its climate commitments?

Financial Times

Cost of filling up family car hits £100 as petrol prices surge to new record high

The cost of petrol has topped £100 a tank for the first time, with diesel prices even higher, in what the RAC motoring organisation are calling a truly dark day for drivers

Daily Mirror

UAE Central Bank Expects Real GDP Growth to Reach 4.2% in 2023

The United Arab Emirates' central bank said on Wednesday it expects real GDP growth to reach 4.2 percent next year, up from its earlier forecast of 3.3 percent. The central bank estimated the non-oil GDP growth to reach 3.9 percent in 2023 compared with previous estimates of 3.3 percent, while…

Asharq Al-Awsat

GCC Bank Profits Surge to $11 Billion

The first quarter of 2022 proved to be the best quarters for banks in the Gulf Cooperation Council as they raked in $10.9 billion in aggregate profits, a Kamco Invest report showed. This is one of the highest quarterly levels on record. Five out of six Gulf countries saw their…

Asharq Al-Awsat

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The Times of India

Cancer survivor Chhavi Mittal takes boiled Lakshmi Taru leaves every morning; here’s what the leaves are and its benefits; know the side effects too

Ever since she has been diagnosed with breast cancer, Chhavi Mittal has not kept it to herself. She has been spreading words about it. In her personal vlog and through her social media accounts she talks about her life post cancer diagnosis and surgery.

Evening Standard

FTSE 100 Live: Brent crude price at post-invasion peak, European rates in focus

Inflation pressures show no signs of easing after oil prices returned to the peak seen in March after Russia’s invasion of Ukraine.

Bangkok Post

Indonesia launches scheme to speed up palm oil exports

JAKARTA: Indonesia has launched an export acceleration scheme aimed at shipping at least 1 million tonnes of crude palm oil and derivatives following a recent export ban, according to a Trade Ministry regulation made public on Thursday.

The Independent UK

Asian shares fall as oil lingers above $120, yen sinks

Shares are mostly lower in Asia as investors watch for fresh signs of inflation

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The Guardian - UK

Seven stowaways and a hijacked oil tanker: the strange case of the Nave Andromeda

The long read: In October 2020 an emergency call was received from a ship in British waters. After a full-scale commando raid, seven Nigerians were taken off in handcuffs – but no one was ever charged. What really happened on board?

The Times of India

Uttar Pradesh: Indian Oil to launch quiz for teens

LUCKNOW: Indian Oil, in association with the state government, is set to conduct a heritage quiz with prize money of Rs 10 lakh for the winner.

Bangkok Post

PTT planning to produce medical consumables

National oil and gas conglomerate PTT Plc is to move into the production of medical consumables amid growing demand, especially in ageing societies, under a new partnership with petrochemical and plastic manufacturers.

The Hindu

CBI books Shree Basant Oils and others for ₹124-crore bank fraud

The Mathura-based company is into the manufacturing, packaging and trade of refined oil, rice bran, soya oil, palm oil, mustard oil and oil cake

ABC News

Price spikes continue, with oil up and OECD forecasting highest inflation since 1988

Markets globally are in the red as the world faces continuing inflation and the likelihood it will be tackled with rising interest rates. The ASX finishes down again.

Reuters

Greek court overturns decision on U.S. seizure of Iranian oil cargo, says souces

A Greek court on Wednesday overturned an earlier court ruling that allowed the confiscation by the United States of part of a cargo of Iranian oil on an Iranian-flagged tanker off the Greek coast, three sources familiar with the matter said.

Daily Mirror

Everything you need to know as petrol prices keep going up amid cost of living crisis

The main reason for petrol prices going up is a jump in oil prices, with demand rising sharply as economies around the world emerged from Covid lockdowns. Prices also spiked after Russia invaded Ukraine

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