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The Latest Breaking News from Oil

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

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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

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

The Independent UK

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.

Al Jazeera

Oil campaigners charged after Dartford Crossing protest

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

The Independent UK

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Two charged over Just Stop Oil protest that shut Dartford Crossing

Two men will appear in court on Thursday

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

The Independent UK

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.

France 24

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.

Benzinga

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.

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

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.

Reuters

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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

Reuters

Exclusive-U.S. says Russia oil price cap will not be aimed at OPEC

New steps from Group of Seven countries to cap Russian oil sales at an enforced low price will not be replicated against OPEC producers, whose plans to cut output have irked consumer countries, a United States Treasury official told Reuters.

The Times of India

Is Macadamia nut oil the new go to ingredient in the world of beauty?

The buoyancy for a growing preference for all things natural, the market share for natural and organic cosmetics has risen considerably. To resonate with discerning consumers, the cosmetic manufacturers are looking for natural and organic ingredients which deliver the necessary benefit and functionality. So we find the luxurious macadamia nut…

Daily Record

Just Stop Oil activist explains reason behind throwing soup on Van Gogh painting

The activist claims they did "no damage to the painting whatsoever".

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The Independent UK

Climate protesters ‘would be treated much worse if they were black or working class’ claims foreign secretary

‘Black boys from Lewisham or working-class boys from Wolverhampton ... would be treated as criminality, nothing more,’ says James Cleverly

Zenger

Boaters Speak Out After Being Stranded In Gulf For 28 Hours In Terrifying Ordeal

The father-son never imagined their boating, survival and swimming skills would all be put to the test.

Al Jazeera

EU response to energy crisis looms amid rising oil, gas prices

Energy prices began soaring last year after lifting of pandemic lockdowns, followed by Russia’s war in Ukraine.

Evening Standard

Just Stop Oil protesters block traffic outside V&A and Natural History museums

Seventeen people have been arrested

The Guardian - UK

‘Climate justice is bigger than public opinion’: are Just Stop Oil’s tactics right?

Readers debate whether climate activists’ divisive methods are justified – or alienating and ineffective

The Independent UK

Home secretary Suella Braverman blames protest disruption on ‘tofu-eating wokerati’

It comes as Just Stop Oil continues to cause disruption on roads

The Guardian - UK

UK inflation: which goods and services have risen most in price?

From low-fat milk to olive oil, pet products to air transport, how costs have soared

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