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The Latest Breaking News from Oil

Australia drops charge against lawyer over spying claim

Australia’s new government has dropped the 4-year-old prosecution of a lawyer over his alleged attempt to help East Timor prove Australia spied on it during multibillion-dollar oil and gas negotiations

The Independent UK

Conservatives blame the energy crisis on net zero climate goals – but what is really going on?

A range of factors is behind the rise in electricity prices, but net zero isn’t one of them

The Guardian - AU

Asian stocks higher after Fed says rate hikes may be needed

Asian stock markets are higher after the Federal Reserve said more U.S. interest rate hikes might be needed to cool inflation

The Independent UK

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Asian stocks higher after US Fed signals more rate hikes

Markets in Shanghai, Tokyo and Sydney rise after Fed meeting flags possibility of “even more restrictive stance”.

Al Jazeera

Australian fossil fuel megaprojects at risk from record high global gas prices

Experts warn of ‘permanent demand destruction’ for gas but say conditions are ideal for a structural shift to renewable energy

The Guardian - AU

Producers keep eye on sales amid rising costs

Higher energy prices have driven up production costs by 20%, but manufacturers managed to increase goods prices by less than 10% as they struggle to maintain sales volume, according to the latest poll conducted by the Federation of Thai Industries (FTI).

Bangkok Post

Oil carrier develops leak in fuel tank inside Chennai Port

The empty carrier had arrived from Sri Lanka

The Hindu

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Why Shell Shares Are Falling Today

Shell PLC (NYSE: SHEL) shares are trading lower by 2.72% to $47.25 Wednesday morning. Shares of energy companies are trading lower again Wednesday amid a drop in oil prices as investors assess recession concerns. Concerns of an economic slowdown have pressured the demand outlook.

Benzinga

Why Exxon Mobil Shares Are Diving Again Today

Exxon Mobil Corp (NYSE: XOM) shares are trading lower by 2.72% to $82.51 Wednesday morning. Shares of energy companies are trading lower again Wednesday amid a drop in oil prices as investors assess recession concerns. Concerns of an economic slowdown have pressured the demand outlook.

Benzinga

Oil painting for beginners: 5 important things to know before you get started

From techniques to equipment, this is oil painting for beginners.

Creative Bloq

Govt asks companies to cut edible oils price by up to Rs 10 per litre, maintain uniform MRP of same brand oil

NEW DELHI: Amid a fall in global prices, the government on Wednesday directed edible oil manufacturers to further cut the maximum retail price (MRP) of imported cooking oils by up to Rs 10 per litre within a week, and maintain a uniform MRP of the same brand of oil across…

The Times of India

OPEC Leader Mohammed Barkindo Dies Unexpectedly: How Will Oil Stocks Such as Exxon Mobil Respond?

OPEC has announced that its Secretary General Mohammad Barkindo had passed away at the age of 63. Barkindo held the position for six years and was due to step down from his post at the end of July. He was set to join the U.S. think tank Atlantic Council's Global Energy Center as…

Benzinga

Coinbase Says Two-Thirds of Crypto Price Decline Due To Macro Factors

The correlation between stock and crypto-asset prices has risen significantly since 2020 and the digital assets today share similar risk profiles to oil commodity prices and technology stocks, according to Cesare Fracassi, Chief Economist at Coinbase Global Inc (NASDAQ: COIN).

Benzinga

Americans' Trust in Government Institutions Hits a New Low

Plus: First-degree murder charges for the Illinois parade shooting suspect, breakthroughs in cloning technology, and more...

Reason

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The Guardian - UK

BP accused of dumping industrial waste in marine-protected area off Shetland

UK regulator gave oil firm clearance to drop thousands of tonnes of pipes and cables after drilling finished

Benzinga

HP And 3 Other Stocks Insiders Are Selling

US crude oil futures traded higher this morning on Wednesday. Investors, meanwhile, focused on some notable insider trades.

The Times of India

Sensex, Nifty rebound over 1% as financials, FMCG shares gain

MUMBAI: Benchmark stock indices sensex and Nifty rebounded over 1 per cent on Wednesday following buying in FMCG, financials and auto stocks amid softening crude oil prices and foreign funds turning net buyers of domestic equities after a long gap.

The Independent UK

What is hashish oil and how did it land Brittney Griner in a Russian jail?

Griner pleaded guilty to drug charges on 7 July

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Reuters

Calgary Stampede back on with oil prices high, COVID rules low

With crude prices around $100 a barrel and COVID-19 restrictions largely gone, the Calgary Stampede looks to reclaim its place this year as Canada's biggest oil industry party.

The Japan News/Yomiuri

Moscow turns the screws on foreign firms over sanctions

Russia's establishment of a law requiring oil and natural gas development projects to be conducted by Russian companies indicates the government of President Vladimir Putin is strengthening its stance on shutting out foreign firms.

Reuters

Kremlin slams Japan's 'unfriendly' stance amid G7 oil price cap talk

The Kremlin criticised Japan on Wednesday over what it called a "very unfriendly position" towards Russia, saying this hampered the development of economic relations, including in energy.

Dynamite News

LPG price hiked by Rs 50; rates up by Rs 244 in one year

Cooking gas LPG price on Wednesday was hiked by Rs 50 per cylinder, the third increase in rates since May on firming international energy prices. Read more on Dynamite News:

Liverpool Echo

Russian import ban helps Stanlow refinery sales soar by over 1bn

Essar Oil (UK) also confirmed it has paid all historic Covid-related deferred tax payments in full

Daily Mirror

Who is Nadhim Zahawi? Millionaire oil exec Chancellor who claimed expenses at his stables

Boris Johnson loyalist Nadhim Zahawi took the job of Chancellor of the Exchequer last night after Rishi Sunak’s shock resignation, rocketing him from the post of Education Secretary

The Independent UK

OPEC secretary-general is dead, Nigerian officials announce

Nigerian authorities have announced that the Secretary-General of the Organization of Petroleum Exporting Countries has died

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