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The Latest Breaking News from Oil

Oil industry says Granholm meeting sends 'positive signal'

Groups representing the oil industry and refiners say a meeting with Energy Secretary Jennifer Granholm was productive and should send a signal to markets that the United States is committed to long-term investments in the oil and refining industry

The Independent UK

Sunak urges banks to keep funding oil and gas firms after windfall tax

Sector says £5bn energy profits levy will make investment in new projects and renewables more difficult

The Guardian - UK

Review: The wickedly funny 'Flux Gourmet' serves up food, poop, orgies, satire — and soul

I counted only one audible fart in "Flux Gourmet," which seems a curious show of restraint for a movie in which sound and scatology play such important roles. A wondrously demented study in creative, sexual and gastrointestinal struggle, this latest art-horror-comedy whatsit from the Hungary-based English filmmaker Peter Strickland unfolds…

Los Angeles Times

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'Constructive' talk but no deal as Granholm meets oil execs - Roll Call

A meeting of oil executives and Energy Secretary Jennifer M. Granholm concerning high consumer gas prices did not produce an agreement.

Roll Call

Here's how to emulsify anything

Broken sauces, be gone!

Salon

Creepy Art: Eerie Paintings By Notorious ‘Killer Clown’ John Wayne Gacy Are Up For Auction

A set of creepy oil paintings by notorious ‘killer clown’ John Wayne Gacy could fetch thousands at auction after being found gathering dust in a cupboard at house in England.

Zenger

Home heating oil price in Northern Ireland 'more than double' 10-year average

It said the average price for 500 litres of home heating oil in the region is now £524.44

Belfast Live

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Woman shares how priest tried to 'cure' her of homosexuality with oil ritual

As a young lesbian Marina Forrestal described the process usually carried out as part of final rites to the sick or dying as "ritual abuse" in the hour-long RTE film Outitude

Daily Mirror

How Vladimir Putin's Russia Is Transporting Oil To India Via Dubai, Skirting Western Sanctions

Official data has shown that India is helping Russia export oil to the South Asian nation and elsewhere amid the global sanctions on Moscow for invading Ukraine.

Benzinga

Target And 2 Other Stocks Insiders Are Selling

US crude oil futures traded lower on Thursday. Investors, meanwhile, focused on some notable insider trades.

Benzinga

This creamy pasta is further proof that seaweed goes with everything

This dish came about while Kim was experimenting during the pandemic, writes Aaron Hutcherson

The Independent UK

Why Biden can't bring gas prices down

Its conflicting goals are resulting in mixed messages and rising tensions with the energy industry.

Axios

IMF: Overall Saudi GDP Projected to Grow 7.6%

The International Monetary Fund (IMF) has highlighted solid indicators for the Saudi economy, expecting a 7.6 percent overall GDP growth in 2022. Non-oil growth will increase to 4.2 percent in 2022, with the current account surplus will increase to 17.4 percent of GDP in 2022, said the Fund experts. An…

Asharq Al-Awsat

Biden’s proposed federal tax cut on gas could cost dearly in the future

Experts warn cutting the 18 cents will take a toll on highway upkeep and cause prices to rise further when the holiday ends

The Guardian - US

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Tribune News Service

Commentary: The real culprit behind the gasoline supply crunch

Calling the gasoline supply crunch “Putin’s price hike” hasn’t worked for President Joe Biden, so now he’s trying a different tactic: blaming oil companies. His June 15 letter to seven major refiners complains about profit margins and a lack of supply in the U.S. market. But this is a little…

Reuters

Russian oil tankers get India safety cover via Dubai company

India is providing safety certification for dozens of ships managed by a Dubai subsidiary of top Russian shipping group Sovcomflot, official data showed, enabling oil exports to India and elsewhere after Western certifiers withdrew their services due to global sanctions against Moscow.

Asharq Al-Awsat

Biden Administration Split Over 'Seriousness' of Iran's Nuclear Ambitions

Nearly four months after the nuclear negotiations with Iran were suspended, Tehran still shows a lack of interest in accepting the US offer to return to the nuclear agreement. The Biden administration publicly asserts that it is willing to negotiate a return to the nuclear deal.

Reuters

At least two sunoil tanks hit in Russian rocket attack on Mykolaiv

At least two sunflower oil tanks at a terminal in Ukraine's Black Sea port of Mykolaiv were seriously damaged in a Russian rocket attack, according to photos released on Thursday by the local emergency service.

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Asharq Al-Awsat

Markets Fluctuate, Oil Falls again as Recession Warnings Build

Asian markets struggled Thursday to recover from the previous day's battering, while oil extended losses, after Federal Reserve boss Jerome Powell admitted the economy could tip into recession as the bank hikes interest rates to fight runaway inflation. Soaring prices and central banks' battle to rein them in have sent…

Asharq Al-Awsat

Oil Falls More Than 2% as Investors Weigh Recession Risk

Oil prices continued to pull back on Thursday, dropping more than 2% as investors recalibrated assessments of recession risks and fuel demand amid interest rate hikes in major economies. US West Texas Intermediate (WTI) crude futures had skidded $2.6, or 2.7%, to $103.46 a barrel by 0330 GMT. Brent crude…

Bangkok Post

Prolonged Russia-Ukraine war shakes up global energy stability

The prolonged Russia-Ukraine war started in February and dragging on into the second quarter of 2022, has caused a hike in global crude oil prices to high levels. The average price of ICE Brent crude oil increased from 13.86 USD per barrel in the first quarter of 2022 to 111.63…

The Times of India

China, India may be buying more Russia oil than known, US says

WASHINGTON: China and India may be buying more Russian oil than the US previously believed, easing a supply crunch in global markets and potentially driving a recent price decline, one of President Joe Biden’s economic advisers said.

Bangkok Post

Bank of Thailand should urgently hike rates: Korn

The Bank of Thailand (BoT) should urgently hike interest rate to prevent a further spike in inflation and ease the burden on low-income groups already reeling from the rising cost of living, according to Korn Chatikavanij, a former finance minister.

The Conversation

Why this new climate case against the high-polluting Scarborough gas project is so significant

A major new climate case to stop Woodside’s controversial Scarborough gas project going ahead has been filed by the Australian Conservation Foundation (ACF) in the federal court this week. ACF lawyers argue that the potential for the project’s emissions to harm the Great Barrier Reef must be assessed.

The Guardian - AU

Russia-Ukraine war: what we know on day 120 of the invasion

Russian forces edge closer to seizing the last pocket of resistance in Ukraine’s eastern Luhansk; footage shows drone crashing into oil refinery inside Russia’s borders

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