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The Latest Breaking News from Oil

FTSE 100 Live: Brent crude price up again, Nelson Peltz joins Unilever board

Brent crude posted another sharp price rise today after EU leaders moved to ban 90% of Russian oil imports by the end of the year.

Evening Standard

Europe steps up pressure on Putin with deal to ban Russian oil imports

The EU said it would ban 90 per cent of oil imports from Russia by the end of this year

Evening Standard

Sunak’s UK oil subsidy could have insulated 2m homes, says thinktank

The billions now going to fossil fuel exploitation could have funded efficiency measures that cut energy bills for good

The Guardian - UK

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EU Leaders Ban Most Russian Oil, as Moscow Advances in Donbas

European Union leaders have agreed to ban more than two-thirds of Russian oil imports, tightening economic screws on the country even as Moscow's forces press their offensive in Ukraine's eastern Donbas region. The compromise deal reached late Monday, meant to punish Russia for its invasion three months ago, cuts "a…

Asharq Al-Awsat

Global refiners falter in efforts to keep up with demand

Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the United States and Brazil to smaller countries like war-ravaged Ukraine and Sri Lanka.

Reuters

EU to ban most Russian oil imports to put "maximum pressure" on Putin to end war on Ukraine

The agreement immediately covers more than two-thirds of oil imports from Russia.

Axios

Russia takes most of Sievierodonetsk city in eastern Ukraine

Ukraine said on Tuesday that Russia had taken control of most of the eastern industrial city of Sievierodonetsk, a bombed-out wasteland whose capture Moscow has made the principal objective of its invasion.

Reuters

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Attack on chemical plant in Sievierodonetsk criticised by Zelensky – as it happened

Ukraine president calls bombing of major chemical plant ‘madness’; Gazprom halts gas flows to companies in three western European countries

The Guardian - UK

EU leaders agree partial ban on Russian oil

Sanctions finally get the go-ahead after Hungary's demand for guarantees over supply are taken into consideration

Wales Online

Ukraine news – live: EU bans Russian oil imports by sea ‘to stop Putin war machine’

Top Russian official says the Kremlin will find other importers after EU moves to partially ban oil imports from Moscow

The Independent UK

Asian stocks mixed, oil prices shoot past $115

Asian shares are mixed after reports showed China's manufacturing slowdown is moderating

The Independent UK

Russia-Ukraine war: what we know on day 97 of the invasion

Airstrike hits chemical plant in Sievierodonetsk; African Union warns that Moscow blockade of Ukrainian ports risks ‘catastrophic’ food shortages

The Guardian - UK

EU leaders agree to Russian oil ban after compromise with Hungary

EU says deal will effectively cut 90 percent of oil imports by year-end, cutting off key source of Moscow’s war funding.

Al Jazeera

EU leaders agree "in principle" on Russia oil embargo - von der Leyen

EU leaders have reached an agreement "in principle" on banning oil imports from Russia, European Commission chief Ursula von der Leyen said early on Tuesday.

Reuters

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ABC News

Two men accused of running Breaking Bad-style meth lab hidden on rural property near Braidwood sentenced to jail

A drug cook and his accomplice, who produced a large quantity of methamphetamine oil at an isolated property near Braidwood, are sentenced to several years in jail.

ABC News

European Union agrees to partial embargo on Russian oil as part of Ukraine invasion sanctions

European Union leaders reach a compromise on a long-delayed package of sanctions that was being blocked by Hungary, agreeing to impose a partial oil embargo on Russia.

WEKU

The EU will block most Russian oil imports as Hungary's Orbán fights off a total ban

Pipeline deliveries, which are critical to Hungary, Slovakia and the Czech Republic, won't be affected by the ban. The much more complicated issue of Russian natural gas remains unresolved.

The Times of India

Sales curtailing new mantra for oil cos to cut losses: Dealers

NAGPUR: Amid high fuel costs pinching consumers, petroleum dealers have complained of oil marketing companies resorting to unofficial rationing in supply of diesel. Some private companies had stopped supply of diesel at their outlets for around couple of months, only to restart it on Monday.

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Reuters

EU leaders agree to ban export of Russian oil to the bloc - EU's Michel

EU leaders agreed on Monday to ban the export of Russian oil to the 27-nation bloc, EU Council President Charles Michel said.

France 24

EU agrees ban on 'more than two thirds' of Russian oil imports

European Union leaders reached a compromise Monday to impose a partial oil embargo on Russia at a summit focused on helping Ukraine with a long-delayed package of sanctions that was blocked by Hungary.

Al Jazeera

Latest Ukraine updates: Russia controls ‘most’ of Severodonetsk

Latest Ukraine news from May 31: Luhansk governor says Russian forces are set to take over the eastern Ukrainian city.

Bangkok Post

MPI labours amid conflict

Thailand's Manufacturing Production Index (MPI) managed to increase slightly in April, rising 0.56% year-on-year to 91.79 points amid the prolonged impact of the Russia-Ukraine war.

ABC News

ASX dragged down by tech, banks and telecommunications

Australian shares close lower on Tuesday, after the majority of sectors dragged on the ASX 200.

Tribune News Service

EU leaders aim to break oil ban impasse with unity at stake

BRUSSELS — European Union leaders intend to give their political backing to a ban on Russian oil, paving the way for a possible agreement next month on a sixth package of sanctions targeting Moscow for its invasion of Ukraine.

France 24

What is Europe's next move? EU weighs up sixth round of sanctions against Russia

The EU is weighing up more sanctions against Russia. In Brussels, a special summit has been examining a sixth round of sanctions against Moscow since the Russian invasion of Ukraine began on February 24. Is this the moment an oil embargo comes into play?

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