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The Latest Breaking News from Oil

Biden ends trip with U.S.-Saudi relations on the mend but few other wins

President Joe Biden and Saudi Crown Prince Mohammed bin Salman took a step to mending their troubled relationship with a fist bump, but the U.S. leader left the kingdom on Saturday with few big successes and doubts as to whether the visit was worth it.

Reuters

Saudis warn against 'unrealistic' energy policies

JEDDAH, Saudi Arabia: “Unrealistic” policies regarding energy sources will only push up costs and lead to “unprecedented inflation”, Saudi Arabian Crown Prince Mohammed bin Salman said on Saturday.

Bangkok Post

Indonesia scraps palm oil export levy

NUSA DUA, Indonesia: Indonesia has scrapped its export levy for all palm oil products until Aug 31 in a fresh attempt to boost exports and ease high inventories, finance ministry officials said on Saturday, adding the move would not disrupt government revenues.

Bangkok Post

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Indonesia removes palm oil export levy until Aug. 31

Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finance ministry officials said on Saturday, adding the move would not disrupt government revenues.

Reuters

Scholz: Germany's increased coal, oil use will be temporary

Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war in Ukraine is only temporary and his government remains committed to doing “everything” to combat the climate crisis

The Independent UK

US, Saudi Arabia pledge moves to stabilise global energy markets

Washington welcomes Riyadh’s commitment to supporting global oil markets as it seeks to lower the price of gasoline.

Al Jazeera

We found the cheapest toilet roll out of Home Bargains, B&M, Poundstretcher and Quality Save - and counted every sheet

Nobody wants to be throwing money down the toilet and when it comes to spending a penny, there are pounds to be saved

Manchester Evening News

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Joe Biden expects more Saudi oil after trip to kingdom

RIYADH: President Joe Biden said he expects further oil supply increases from Saudi Arabia to help tame fuel costs at home after a landmark meeting with the kingdom’s rulers.

The Times of India

How to make radish pistou soup from both the bulbs and the leaves

Radish leaves have the freshest flavour and can be blended into a garlicky pesto to top this lively, rosy-pink summer soup made from the bulbs

The Guardian - UK

Jet fuel price cut by 2.2%

Aviation turbine fuel prices were cut by ₹3,084.94 per kilolitre on July 16

The Hindu

Biden fails to secure major security, oil commitments at Arab summit

President Joe Biden told Arab leaders on Saturday that the United States would remain an active partner in the Middle East, but he failed to secure commitments to a regional security axis that would include Israel or an immediate oil output rise.

Reuters

Biden says he confronted Saudi crown prince over Khashoggi’s killing

JIDDA, Saudi Arabia — President Joe Biden shared a fist bump Friday with the leader of the oil-rich country he once vowed to make a “pariah” over its human rights abuses as the White House scrambles to mitigate record inflation and high gas prices hammering Americans in an election year.

Los Angeles Times

IRPC preps B2bn gas separation plant

IRPC, a petrochemical arm of national oil and gas conglomerate PTT Plc, plans to develop a 2-billion-baht gas separation plant to support its production of cleaner oil under a cooperation agreement with Bangkok Industrial Gas Co (BIG), Thailand's largest industrial gas producer.

Bangkok Post

China slump and Fed on investors' minds

Recap: Asian shares were mixed yesterday as investors grew more concerned over the economic downturn after data showed a sharp second-quarter slowdown in China. However, some investors welcomed comments from two US Federal Reserve governors who said an overly aggressive interest-rate increase was probably not needed.

Bangkok Post

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The Hindu

Food Safety dept. initiative to check reuse of cooking oil in hotels

Government permits three firms to procure used oil

Salon

How to make soap at home

Lessons in lye

Benzinga

Crude Oil Rises By More Than 2%; Codexis Shares Plummet

U.S. stocks traded higher toward the end of trading, following the release of several earnings results and economic reports.

The Hindu

Deficit doubts: On concern over current account deficit

Fretting about the current account deficit is warranted; fiscal space must also be reassessed

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Los Angeles Times

Biden offers historic fist bump in Saudi Arabia as he abandons promise to isolate the kingdom

JEDDAH, Saudi Arabia — President Joe Biden met here on Friday with the leaders of the oil-rich country he once vowed to make a “pariah” over its human rights abuses as the White House scrambles to mitigate record inflation and high gas prices hammering Americans in an election year.

The Hindu

With fish in shallow waters disappearing, fisherfolk in Kerala staring at penury

Navamy Sudhish reports on the disastrous impact of extreme climate events, rising fuel prices, destructive fishing practices, and overexploitation on livelihoods and biodiversity

The Guardian - UK

Joe Biden lands in Saudi Arabia seeking to halt shift towards Russia and China

Analysis: US president aiming to convince Jeddah to increase oil supply in order to calm global energy markets

Asharq Al-Awsat

US Welcomes Lebanon, Israel Maritime Boundary Efforts

The United States on Friday applauded efforts by Lebanon and Israel seeking to reach a decision on maritime boundaries and said it remains committed to facilitating the ongoing negotiations that will help determine oil and gas resources. The Biden administration thinks a deal could "yield greater stability, security, and prosperity…

The Guardian - US

Fist bumps as Joe Biden arrives to reset ties with ‘pariah’ Saudi Arabia

Oil markets top of the agenda for US president who receives subdued welcome three years after Jamal Khashoggi comments

Belfast Live

Price of fuel and home heating oil begins to drop in Northern Ireland

The price of heating oil has reduced significantly in the past week

Motor1

Old Lexus And BMW Engines Drained Of Oil, Torture Tested To Death

Both cars are over 20 years old and both have V8s under the hood. But one significantly outlasts the other.

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