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The Latest Breaking News from Oil

Sensex, Nifty decline nearly 1% on profit booking in IT, financial shares

MUMBAI: Benchmark stock indices sensex and Nifty tumbled nearly 1 per cent on Wednesday due to profit booking in banking, financial and IT stocks after a recent rally.

The Times of India

Indonesia's Cooking Oil Export Ban Pumps Up Palm, Soyabean Oil Prices

Palm oil jumped 10% while rival soybean oil hit a fresh record high as traders gear up Indonesia's export halt till the domestic cooking oil prices ease, Bloomberg reports. The policy has agitated the global $50 billion palm oil market as Indonesia initially said it would ban all exports of cooking…

Benzinga

‘Ostrich’ Boris Johnson has head in sand over cost of living, claims Labour

The Prime Minister repeatedly claimed Labour has ‘no plan’ and defended his Government’s economic record during PMQs.

The Independent UK

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Citi, Bank of America, Wells Fargo Shareholders Backed Proposals To Stop Financing New Fossil Fuel Supplies Doesn't Get Enough Support

Investors at Citigroup, Inc (NYSE:C) and Bank of America Corporation (NYSE:BAC) hardly backed proposals, essentially asking the banks to stop financing new fossil fuel supplies, Reuters reports. Wells Fargo & Company (NYSE:WFC) investors followed suit with a similar proposal. An expert saw the results reflect the current instability in energy markets and activists’ challenge in persuading…

Benzinga

We looked inside Aldi, ASDA, Tesco, Lidl, Morrisons and Sainsbury's to see which still has cooking oil

The only supermarket with a full shelf of cooking oil was one of two that didn't have rations in place

Manchester Evening News

Why is there a shortage of cooking oil and how many bottles can you buy?

If you're wondering why there is a shortage and how much you can buy, then we have all the information you need.

Daily Record

Oil Prices Stable Amid Balancing Act Of Russia Supply Fears and Asian Demand Concerns On COVID-19 Restrictions

On Wednesday, oil was steady after Russia cut gas supplies to Bulgaria and Poland. However, lingering concerns about Asian COVID-19 related lockdowns (especially in China) weigh on economic growth, and oil demand constrains the prices, writes Reuters. Brent crude futures rose $0.26, or 0.30%, to $105.25 a barrel by 0823 GMT. U.S.…

Benzinga

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Newly re-elected Macron to toughen stance on Russia: Analysts

Dialogue channels will remain open but Macron is expected to push for more aggressive position on Russia, analysts say.

Al Jazeera

Activists turn off German oil pipelines in North Sea drilling protest

German climate activists turned off crude oil pipelines at five locations on Wednesday, demanding the country look for other ways to reduce its dependence on Russian gas than starting new fossil fuel-based infrastructure projects such as deep-sea drilling.

Reuters

Iraq Starts Drilling 20 Oil Wells

Iraq’s Oil Ministry announced on Tuesday that it kicked off a project to drill 20 oil wells in the Nasiriyah oil field in the southern Dhi Qar province. Director-General of the Iraqi Drilling Company (IDC) Bassem Abdul Karim said the project is part of the contract signed with the Dhi…

Asharq Al-Awsat

Tesco, Morrisons and more introduce purchase limits on products due to Ukraine war

As a result of the Russian invasion of Ukraine, supermarkets such as Tesco, Iceland, and Morrisons have introduced limits on some products, meaning customers can only pick up a certain quantity at a time

Glasgow Live

Cheap UK supermarket shoppers are scrambling to - and it's not Tesco or Asda

Two supermarkets are proving popular with shoppers as annual food bills rise by £271

Liverpool Echo

Palm oil surges 5% as market prepares for Indonesia export ban

Palm oil jumped more than 5%, while rival soybean oil hit a fresh record high as traders prepare for the start of Indonesia’s export halt.

Bangkok Post

Editorial: Blaming Biden only goes so far in explaining current global inflation woes

A new International Monetary Fund report suggests that the economic hiccups roiling American politics are actually being felt worldwide and probably have little or nothing to do with President Joe Biden’s leadership. Biden certainly isn’t blameless for at least a portion of the nation’s current inflationary spiral, but the monetary…

St. Louis Post-Dispatch

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Daily Record

Tesco, Waitrose, Morrisons and Iceland introduce new rule for every shopper

The new rules are only temporary and have been brought in to make sure there is availability for everyone.

Daily Mirror

GMB viewers praise Ed Balls for 'calling out' Dominic Raab during on-air clash

Good Morning Britain presenter Ed Balls called out gov minister Dominic Raab over his comments on the show, with Raab then hitting back

Manchester Evening News

'I tried the plumping lipgloss you can get £15 cheaper at Home Bargains and the results were wild'

I looked like I'd had lip filler without the need to spend hundres of pounds

Reuters

How Africa is bearing the brunt of palm oil's perfect storm

Djeneba Belem's fried bean cake stall in Abidjan is a world away from the war raging in Ukraine. But her business is now at the mercy of an unexpected consequence: runaway palm oil prices.

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The Independent UK

Chipa guazú: Whip up this Paraguayan cornbread side for your next BBQ

This dish from the ‘The Platinum Jubilee Cookbook’ is perfect to share, writes Prudence Wade

The Independent UK

UK has imported £220 million of Russian oil since war in Ukraine started, Greenpeace says

Figures show 1.9 million barrels of oil have been imported since Vladimir Putin’s invasion began

Asharq Al-Awsat

Oil Prices Steady as Russia Supply Fears Meet Asian Demand Concerns

Oil was broadly steady on Wednesday after Russia cut gas supplies to Bulgaria and Poland, although lingering concerns about Asian coronavirus lockdowns weighing on economic growth and oil demand kept a lid on prices. Having dipped into negative territory, Brent crude futures rose 26 cents, or 0.3%, to $105.25 a…

Bangkok Post

Truck owners threaten 20% freight charge hike if diesel cap lifted

Truck owners have demanded the government continue to cap the diesel price at 30 baht per litre for a year - or they will immediately hike freight charges by 20% this Sunday.

Salon

Oil execs got big pay amid price hikes

Bonuses alone for executives at 28 of the top oil and gas companies combined topped $31 million combined

Evening Standard

Gas prices surge as Russia says it is cutting supply to Poland and Bulgaria

Vladimir Putin has demanded that ‘unfriendly’ countries pay for gas in roubles

Edinburgh Live

Tesco, Morrisons and Waitrose introduce new rule due to supply chain problems

Tesco is allowing three coking oil items per customer while Waitrose and Morrisons have placed limits of just two items each, in what they are calling a temporary measure to 'ensure availability'.

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