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The Latest Breaking News from Oil

Russia warns that US is 'pouring oil on fire' by giving Ukraine long-range rockets

US President Joe Biden already supplies Ukraine with high mobility artillery rocket systems that can accurately hit targets up to 50 miles - Kremlin officials don't believe they won't be used to hit Russia

Daily Mirror

Kremlin Says It Can Re-route Oil Exports to Minimize Losses from EU Embargo

The Kremlin warned on Wednesday that the European Union's sanctions on Russian oil would hit the global energy market, but said Moscow could re-route exports to limit its own losses. EU leaders this week agreed an embargo on Russian crude oil imports that aims to halt 90% of Russia's oil…

Asharq Al-Awsat

Hungary's Orban escapes EU sanctions on Russian oil

Hungary's divisive leader has once again got his own way with the European Union - this time in tough negotiations on Russian oil at the recent summit in Brussels.

Radio France Internationale

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Libya: Broken Pipeline Causes Crude Spill

A pipeline rupture in Libya is spewing thousands of barrels of oil into the desert, as workers scramble to seal off the leak, authorities said Wednesday. The damage to a land pipeline linking the Sarir oil field to the Tobruk terminal on the Mediterranean was the latest blow to Libya’s…

Asharq Al-Awsat

Ukraine war blamed for fuel hikes in South Africa, continent

South Africans are feeling the bite of fuel price increases that are blamed on Russia’s war in Ukraine and the rise in the Brent crude oil price

The Independent UK

Watch | How palm oil shortage has impacted the Manapparai murukku trade

A video on the making of the Manapparai murukku and the challenges faced by its makers, due to the shortage of Indonesian palm oil

The Hindu

Once-unthinkable: Subsidies for American oil drillers

Could the Federal government be forced to give energy giants subsidies to boost production?

Axios

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A Peek Into The Markets: US Stock Futures Mostly Higher; Crude Oil Rises Over 1%

Pre-open movers

Benzinga

Best retinol skincare products for an overnight, anti-ageing reboot

These vitamin A powerhouses will smooth, brighten and firm without irritation

Evening Standard

Let’s Make-Up: the new beauty launches to have on your radar in June 2022

Our series where we fill you in on the buzziest beauty launches to know this month

Evening Standard

Germany launches €9 all-access public transport ticket

The new German government is making most public transport across the country available until the end of August for a monthly fee of only €9. The move aims to offset inflation and reduce carbon emissions. Our Berlin correspondents Anne Mailliet and Nick Spicer report. Also in this edition, we see…

France 24

World Shares Mixed after Stocks Retreat on Wall Street

World shares were mixed Wednesday after a wobbly day on Wall Street closed out a month buffeted by worries about a possible recession, inflation and rising interest rates. Germany's DAX gained 0.5% to 14,465.06 and the CAC 40 in Paris advanced 0.5% to 6,497.69.

Asharq Al-Awsat

Shortage of oil refineries haunts Africa as fuel prices rocket

A shortage of oil refineries across sub-Saharan Africa coupled with soaring crude prices because of the war in Ukraine has left countries dangerously short of fuel supplies, disrupting airlines and causing queues at filling stations.

Reuters

Italy Imports More Russian Oil despite Impending Embargo

Even as the European Union decided to reduce Russian crude oil imports by 90% by the end of the year, Italy has become the only country in Europe to increase them, an unintended consequence of EU sanctions against Russia. Meant to punish Russia for invading Ukraine, the EU oil embargo…

Asharq Al-Awsat

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Evening Standard

Alan Partridge: Stratagem at the O2 Arena review - patchy, but this snake oil salesman is a reliable joy

Steve Coogan inhabits his desperate, naff creation so seamlessly you completely lose sight of him

The Independent UK

Italy imports more Russian oil despite impending embargo

Italy has become the only country in Europe to increase Russian crude oil imports in an unintended consequence of European Union sanctions against Russia

Evening Standard

Dr Martens defies inflation to polish off record sales in boost to high street

DR Martens today defied global economic turmoil to produce record results that offer at least a glimmer of hope for a battered UK high street.

Asharq Al-Awsat

HRW: Russia’s Wagner Group Set Landmines in Libya

The Wagner Group, a private Russian military security contractor, has used banned landmines and booby traps near Tripoli, Human Rights Watch (HRW) said on Tuesday. “New information from Libyan agencies and demining groups links the Wagner Group to the use of banned landmines and booby traps in Libya in 2019-2020,”…

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Evening Standard

FTSE 100 Live: Brent crude price falls, house market remains robust

Oil prices have retreated on speculation that Opec is paving the way for a potential boost to production.

Insider UK

Tullow Oil and Capricorn Energy agree merger

The deal will see the combined company's headquarters move to London and Capricorn's chief executive step down

The Independent UK

China's Russia dealings irk US, but don't breach sanctions

China’s support for Russia through oil and gas purchases is irking Washington and raising the risk of U.S. retaliation

The Independent UK

Asian shares mixed after stocks retreat on Wall Street

Shares are mixed in Asia after a wobbly day on Wall Street closed out a month buffeted by worries about a possible recession, inflation and rising interest rates

Asharq Al-Awsat

Oil Prices Nudge Higher on EU's Russian Oil Ban, End of Shanghai Lockdown

Oil prices gained slightly on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai. Brent crude for August delivery was up 28 cents, or 0.2%, at $115.88 a barrel at 0338 GMT.

Dublin Live

Energy costs to soar again after EU ban on Russian oil

Taoiseach Micheal Martin said we were now entering a 'new era'

Los Angeles Times

Russian forces close in on takeover of eastern Ukrainian province

DNIPRO, Ukraine — Ukrainian forces desperately tried to block a complete Russian takeover of one of the country’s two eastern provinces Tuesday, with Russian troops clawing out incremental gains even as European leaders agreed to a partial oil embargo aimed at starving Moscow’s mammoth war machine.

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