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The Latest Breaking News from Oil

What Europe's ban of Russian oil could mean for energy markets – and your gas prices

The EU ban on Russian oil imports will likely lead to higher crude and gasoline prices, further upending energy markets.

WEKU

Exxon cancels B330bn project

US oil and gas giant Exxon Mobil Corporation has scrapped its 330-billion-baht ethylene cracker and refinery expansion project in Chon Buri, but the decision will not affect the Eastern Economic Corridor (EEC) scheme, says a source at the Industrial Estate Authority of Thailand (IEAT) who requested anonymity.

Bangkok Post

Federal Reserve hikes official interest rates by 0.5 per cent, ASX rises, Dow Jones jumps 900 points

The US Federal Reserve has increased official interest rates by 0.5 per cent and flagged that more such rises are likely. Meanwhile, the Australian market has followed Wall Street higher.

ABC News

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Russia-Ukraine war: What happened today (May 4)

A roundup of key developments and the latest in-depth coverage of Russia's invasion of Ukraine.

WEKU

Morning mail: One Nation pick draws ire, koala habitat row, Biden slams Trump supporters

Thursday: Party’s choice of a Melbourne candidate to represent a north Queensland city brings a chorus of condemnation. Plus: Australia’s best new songs

The Guardian - AU

Marathon Oil: Q1 Earnings Insights

Marathon Oil (NYSE:MRO) reported its Q1 earnings results on Wednesday, May 4, 2022 at 04:15 PM. Here's what investors need to know about the announcement. Earnings Marathon Oil beat estimated earnings by 10.87%, reporting an EPS of $1.02 versus an estimate of $0.92.

Benzinga

Fueled by momentum, families of hostages lobby White House

Relatives of American hostages and wrongful detainees are trying to get the Biden administration's attention in hopes of getting their loved ones home

The Independent UK

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Ukraine news – live: Mariupol theatre bombing killed 600 civilians, evidence suggests

‘Putin must pay a high price for his brutal aggression,’ European Commission president says

The Independent UK

Inflation control needs another model

Lasting inflation control would require placing agricultural production on a steady footing

The Hindu

Inevitable increase: On RBI’s interest rate hike

The RBI’s increase in interest rates was long overdue

The Hindu

Mid-Afternoon Market Update: Crude Oil Jumps 5%; Fed Boosts Interest Rates By 0.5%

U.S. stocks traded mixed toward the end of trading, after the Federal Reserve announced its policy decision.

Benzinga

Why MEG Energy Shares Are Trading Higher Today

MEG Energy Corp (TSX:MEG) (OTC:MEGEF) price target has been raised to C$22 from C$21 by RBC Capital analyst Greg Pardy. The analyst maintained his Outperform rating on the shares. The analyst stated that the bullish stance towards MEG Energy reflects its capable leadership team, top-quartile oil sands operations at Christina Lake, balance sheet deleveraging, and…

Benzinga

Keir Starmer blasts 'out of ideas' Tories and vows to get Britain 'back up off the mat'

Labour leader Keir Starmer said 'Britain deserves so much better than this out of touch, out of ideas Tory Government' as voters prepare to head to the polls for the local elections

Daily Mirror

What's Going On With Athabasca Oil Shares Today

RBC Capital analyst Luke Davis raised the price target for Athabasca Oil Corp (TSX:ATH) (OTC:ATHOF) to C$3.25 from C$2.50 while maintaining the Sector Performs rating on the shares. The analyst removed the Speculative Risk qualifier. The analyst states that Athabasca’s positioning continues to improve, with steady operational performance setting the stage for a strategic shift…

Benzinga

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Daily Mirror

'Britain deserves so much better than this out-of-touch, out-of-ideas Tory government'

Writing exclusively for the Mirror on the eve of the local elections, Keir Starmer blasted the Tories for making working people pay the price for their failures and said Labour would 'get household bills down and Britain back up off the mat'

Asharq Al-Awsat

Ukraine Welcomes EU’s Proposed Oil Embargo

In a video message posted on Twitter, Ukraine’s Foreign Minister Dmytro Kuleba welcomed the European Union’s decision to propose an embargo on Russian oil.

The Guardian - AU

How to save money on groceries: the best value fresh produce in Australia this May

Leafy green vegetables are beginning to come into season in Australia, making vitamin-rich cooking a little more affordable, and pears are at their prime

Al Jazeera

What you should know about the EU plan to ban Russian oil imports

The European Commission has proposed a plan to phase out imports of Russian crude and refined oil.

Get all your
news in one place.

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WEKU

The EU just proposed a ban on oil from Russia, its main energy supplier

The European Union wants to sharpen its sanctions against Russia. But its leaders acknowledge Europe's economy could suffer.

Daily Mirror

NHS drivers hit by cost of living double whammy of fuel and parking costs

Chancellor Rishi Sunak recently faced a wrath of criticism for parking his family’s VW Golf for free in Downing Street despite slashing the perk for NHS hospital staff in England.

Asharq Al-Awsat

Why the EU May Find it Tough to Squeeze Out Russian Oil

The European Union has proposed a phased embargo of Russian oil but may find it tricky to implement, given Europe's complex distribution network and challenges in tracking crude once it is blended or refined. The plan, if agreed by member states, would take effect in six months for crude, and…

Tribune News Service

EU targets Russia’s global oil trade with shipping sanctions

The European Union is seeking to go beyond an import ban on Russian crude, targeting insurers in a move that could dramatically impair Moscow’s ability to ship its oil anywhere in the world.

Irish Mirror

Experts say Ireland can survive EU Russia oil embargo

Fuels for Ireland says any such cut-off won't hit our reserves this year and we won't run out of fuel

Benzinga

Mid-Day Market Update: Dow Rises 100 Points; Lyft Shares Plummet

U.S. stocks traded mixed midway through trading, with the Dow Jones gaining more than 100 points on Wednesday.

The Independent UK

Barclays and Standard Chartered shareholder meetings disrupted by protests

Barclays chairman Nigel Higgins was repeatedly interrupted by climate change activists in the audience.

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