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The Latest Breaking News from Oil

Oil Prices Rise on Possible Easing in China COVID Quarantine Measure

Oil prices gained around $1 on Thursday as investor sentiment rose on news that China is considering a cut in the duration of quarantine for inbound visitors. Brent crude futures for December settlement rose 80 cents, or 0.9%, to $93.21 a barrel at 0610 GMT. US West Texas Intermediate crude…

Asharq Al-Awsat

Asian shares fall after weak earnings pull Wall St lower

Asian shares are mostly lower after Wall Street benchmarks fell, reversing course after two days of gains

The Independent UK

Biden Releases 15M Barrels From Oil Reserve

US Joe Biden announced the release of 15 million barrels of oil from the US strategic reserve Wednesday as his administration seeks to lower prices ahead of next month’s midterm elections. He also announced a policy to restock the strategic reserve. High fuel prices are threatening are feeding voter anger…

Asharq Al-Awsat

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‘Fill up ASAP’: Motorists warned ahead of petrol spike

Motorists have been urged to make beeline to the bowser to fill up with petrol with prices tipped to jump as much as 40 cents a litre.

The New Daily

‘Put up or shut up’: can Big Oil prove the case for carbon capture?

Lavish US tax breaks are transforming the case for technology that traps and stores CO₂. Critics say it is still a green boondoggle

Financial Times

Gas boom boosts Woodside, Santos

Woodside has reported a 70 per cent jump in quarterly revenue, while Santos said it had a record $US1 billion in free cashflow during the period.

AAP

The Coalition is seeing red (meat) over the methane pledge – but it’s not just about burping cattle

About half of the CO2-equivalent caused by releasing methane in Australia comes from agriculture. The rest comes mainly from coalmines, oil, gas and waste

The Guardian - AU

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Palm oil subsidy scheme to seek cabinet approval

The Commerce Ministry plans to ask the cabinet shortly to approve the state-sponsored price guarantee scheme for palm oil farmers for the 2022/23 harvest season, while pledging to support crude palm oil exporters.

Bangkok Post

An Energy Caucus Lawmaker Is Buying Up Energy Stocks With Big Yields: Here Are Three You Should Know About

Kevin Hern is a member of the Republican party and a member of the U.S. House of Representatives for Oklahoma's 1st Congressional District. Rep.

Benzinga

ASX falls on job numbers and as recession fears return to Wall Street

Recession fears return to the ASX and Wall Street with stocks ending a two-day rally. Weaker employment growth in Australia also weighs on shares.

ABC News

Pakistan finance minister says it may buy discounted Russian oil

If India buying oil from Russia, ‘we also have a right’, minister says as Pakistan aims to preserve its shrinking forex.

Al Jazeera

Biden warns oil and gas companies against price gouging as he announces additional petroleum reserve releases

‘You should not be using your profits to buy back stock or for dividends. Not now, not while a war is raging’

The Independent UK

U.S. charges Russians for shipping military equipment, Venezuelan oil

U.S. prosecutors on Wednesday charged five Russian nationals for sanctions evasion and other violations related to shipping military technologies bought from U.S. manufacturers to Russian buyers, some of which ended up on the battlefield in Ukraine.

Reuters

Biden implores US oil companies to pass on record profits to consumers

US president announces release of 15m barrels of oil from strategic reserve as he fights to keep gas prices in check before midterms

The Guardian - US

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The Independent UK

Facing tough midterms, Biden releasing oil from US reserve

President Joe Biden is telling voters that he hasn’t given up on lowering gasoline prices

Al Jazeera

Biden releasing 15 million barrels of oil from strategic reserve

Just weeks before US midterms, move completes a previously announced release of 180 million barrels amid war in Ukraine.

The Independent UK

Oil campaigners charged after Dartford Crossing protest

Two men will appear in custody at Southend Magistrates’ Court on Thursday.

The Independent UK

Two charged over Just Stop Oil protest that shut Dartford Crossing

Two men will appear in court on Thursday

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news in one place.

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The Independent UK

EXPLAINER: What is the Strategic Petroleum Reserve?

The Biden administration plans to release 15 million barrels of oil from the U.S. strategic reserve to counter recent production cuts announced by OPEC+ nations

France 24

Europe joins the ‘white gold’ rush for lithium and faces an energy transition challenge

With the EU committed to making electric vehicles widely available by 2035, the demand for metals required to produce batteries, particularly lithium, is expected to explode. The market is currently dominated by a handful of countries, but Europe wants to join the club by exploiting its subsoil.

Benzinga

Crude Oil Rises 1.5%; Generac Holdings Shares Plummet

U.S. stocks traded mostly lower midway through trading, with the Dow Jones falling around 50 points on Wednesday.

Tribune News Service

Biden says more oil releases possible to cut gasoline prices

President Joe Biden announced the drawdown of an additional 15 million barrels of oil from U.S. emergency reserves, as well as what he called a “ready and release plan” aimed at driving down gasoline prices.

Tribune News Service

Biden open to new oil reserve sales as last tranche released

The Biden administration plans to release 15 million barrels from US emergency reserves and may consider freeing up significantly larger additional supplies this winter as it tries to ease high gasoline prices that have become a liability for Democrats in next month’s midterm elections.

Reuters

Explainer-Iran and Russia's growing drone alliance amid Western outcry

Iran has promised to provide Russia with surface to surface missiles, in addition to more drones, said Iranian officials, a move that has infuriated the United States and other Western powers which are backing Ukraine in the war.

The Independent UK

Brittney Griner will have prison sentence appeal heard by Russian court later this month

Two-time Olympic gold medalist was convicted on 4 August over cannabis oil vape canisters in luggage

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