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The Latest Breaking News from Oil

Months into the Ukraine war, has Germany’s position changed?

Berlin has eased its restrictive arms export policy to supply Kyiv with lethal weapons, but frictions remain.

Al Jazeera

Warren Buffett's Berkshire Hathaway Boosts Stake In Occidental Petroleum

Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK-B) has bought another 5.9 million shares of Occidental Petroleum Corporation (NYSE:OXY), boosting its stake in the oil company to ~15.2%. Occidental's share price has doubled this year, benefiting from Berkshire's purchases and rising oil prices, with a further boost from the Ukraine crisis. The purchases made on May 2…

Benzinga

'I tried M&S fish and chips Gastropub meal and it was like a 'posh London pub'

M&S may be a good alternative for those looking to stay home instead of hitting the pub with their friends.

Daily Record

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EU leaders announce sixth package of sanctions targeting Russia as oil imports to be phased out entirely

“This sends another important signal to all perpetrators of the Kremlin's war: We know who you are, and you will be held accountable"

Irish Mirror

Shell reports record 1st-quarter earnings as oil prices soar

Energy giant Shell has reported record first-quarter earnings after a surge in oil prices

The Independent UK

Ukraine wants complete energy embargo on Russia - senior parliamentarian

Ukraine hopes the European Union will impose an embargo on Russian natural gas and oil and wants Ukraine and Europe to "completely abandon Russian energy resources", a senior member of the Ukrainian parliament said on Thursday.

Reuters

Windfall tax: What is it, how would it work and how would consumers benefit?

Labour and the Lib Dems are calling for one; the Tories are resisting it. But how would it actually work?

Bristol Post

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First Thing: Joe Biden says ‘Maga crowd’ could target LGBTQ+ children next

President warns of new Republican party attacks on rights after supreme court abortion leak. Plus, Amber Heard takes witness stand against Johnny Depp

The Guardian - UK

Shell fuels calls for windfall tax with record profits haul

First quarter underlying earnings came in at £7.2bn – nearly three times higher than a year ago

Insider UK

Quick Fix: Celebrate salmon season with these kabobs

It’s a treat to savor wild salmon at this time of year. The season started May 1 and runs through August. Here’s a new and easy way to cook salmon. Place salmon cubes on skewers and grill or broil them.

Tribune News Service

Russian war, China lockdowns roil oil markets as OPEC+ meets

Oil markets have been fluctuating over fears of lost supplies from Russia because of the war in Ukraine

The Independent UK

Oil Climbs on Supply Jitters as EU Lays Out Russian Oil Ban

Oil prices extended gains on Thursday on supply concerns after the European Union laid out plans for new sanctions against Russia, including an embargo on crude in six months, offsetting concerns over weaker Chinese demand. Brent was up 36 cents, or 0.3%, at $110.50 a barrel by 0825 GMT, and…

Asharq Al-Awsat

Record Shell profits spark fresh demand for Tories to back windfall tax

THE UK Government is under increasing pressure to introduce a windfall tax on energy giants after Shell announced mammoth first-quarter profits…

The National (Scotland)

Asian, European markets rise as US Fed eases fears of huge rate hike

Markets rallied Thursday after the US Federal Reserve played down chances of a huge interest rate hike in the near future, while oil extended gains as the European Union moved to ban imports from Russia.

Bangkok Post

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Asharq Al-Awsat

French Ecology Minister Confident in Russia Oil Ban

France’s ecology minister said Thursday she is confident that the European Union’s 27 nations will quickly agree to a proposed ban on oil imports from Russia. Speaking to FranceInfo radio, Barbara Pompili, said the embargo could be agreed upon within days. “I am confident,” she said.

Al Jazeera

Timeline: Week 10 of Russia’s war in Ukraine

Al Jazeera recaps key events of week 10 of Russia’s invasion of Ukraine.

Al Jazeera

‘A second Afghanistan’: Doubts over Russia’s war prosecution

Russia’s lack of progress in its war against Ukraine has been noted by analysts since it launched a second phase.

Wales Online

Call for huge tax on Shell as it makes £7.2bn profit in three months

On Tuesday, fellow FTSE 100 firm BP unveiled its highest quarterly underlying profits for more than a decade

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Al Jazeera

Russia-Ukraine war: List of key events, day 71

As the Russia-Ukraine war enters its 71st day, we take a look at the main developments.

Asharq Al-Awsat

Mariupol Steel Mill Battle Rages as Ukraine Repels Attacks

Heavy fighting raged Thursday at the shattered steel plant in Mariupol as Russian forces sought to finish off the city’s last-ditch defenders and complete the capture of the strategically vital Ukrainian port. The bloody battle came amid growing suspicions that President Vladimir Putin wants to present the Russian people with…

Evening Standard

US intelligence helping kill Russian generals, according to reports

The US is passing intelligence to Ukrainians forces to target and kill Russian generals, the New York Times has reported, citing senior American officials.

The Independent UK

Oil giant Shell profits nearly triple to £7.3 billion as fuel prices surge

Soaring earnings renew calls for windfall tax on oil and gas firms

Irish Mirror

Irish man sanctioned by UK Government due to links with Russian media

Among the sanctions facing Mr. McDonald, and anyone else deemed connected to the Russian President, include having assets frozen

Reuters

French energy minister expects EU consensus on stopping Russian oil imports by end of week

The French environment and energy minister, Barbara Pompili, on Thursday said she was confident European Union member states will reach a consensus on how to end Russian oil imports by the end of this week.

The Guardian - UK

Pound tumbles to two-year low as stagflation fears rise – as it happened

Sterling tumbles to lowest since June 2020 as Bank of England lifts interest rates to 13-year high, cuts growth forecasts, and sees inflation hitting 10%

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