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The Latest Breaking News from Oil

EU may clinch summit deal to embargo Russian oil shipments

EU countries scrambled on Friday to reach a deal that would embargo seaborne deliveries of Russian oil but still allow deliveries by pipeline, a compromise to win over Hungary and unblock new sanctions against Moscow, officials said.

Reuters

Shell says windfall tax threatens North Sea oil and gas investment

Firm says Sunak’s levy creates uncertainty and asks for tax relief that covers investment in renewables

The Guardian - UK

'I tried Aldi's £4 rose facial oil that could save you over £20 compared to top-rated brand'

Shopping Writer Rachel Williams tried the supermarket's sell out facial oil that shoppers are comparing to Pixi's £26 Rose Blend Oil.

Daily Record

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Therapeutic potential of essential oils

Essential oils are compounds extracted from plants. The oil absorbs the aroma and flavor of the plant, or “extract.” Different aromatic compounds give each essential oil its essence. Essential oils are obtained by distillation (by steam and / or water) or by mechanical means, such as cold compresses. Bharat Bansal,…

The Times of India

Google Cloud Chief Clarifies Aramco Deal Is Not For Oil Production

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Cloud head Thomas Kurien clarified that its deal with oil giant Saudi Aramco did not include oil production, Bloomberg reports. “We work with Aramco system integration division, not with the oil-and-gas division,” Kurian said. Google’s critics, including its employees, have claimed that providing cloud tools to oil-and-gas…

Benzinga

GM Praggnanandhaa receives tenure-based engagement letter from Indian Oil

CHENNAI: Young Indian Grandmaster R Praggnanandhaa has been roped in by Indian Oil and would be receiving all the backing from the PSU major, according to a top official.

The Times of India

The Standard View: Rishi Sunak’s mini-budget shows the need for a stronger economy – and safety net

If the Spring Statement could be characterised as an under-reaction to the cost of living crisis, it would be hard to accuse the Chancellor of making the same mistake twice. Rishi Sunak’s £21 billion package, paid for in part by a windfall tax on oil and gas giants, will help…

Evening Standard

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Executives Sell More Than $30M Of 5 Stocks

US gold futures traded higher this morning on Friday. Investors, meanwhile, focused on some notable insider trades.

Benzinga

Russian export squeeze 'could push oil past $150'

The price of the global benchmark Brent crude could rise past $150 a barrel if there is a sharp contraction in Russian oil exports, Bank of America (BofA) Global Research said on Friday.

Bangkok Post

Iran summons Swiss envoy over US oil seizure

Tehran has demanded the immediate release of the Pegas, an Iranian-flagged tanker being held in Greek waters.

Al Jazeera

Data | Import-reliant India’s edible oil prices skyrocket, average costs near ₹200/litre

The local prices of edible oil have been over the roof in the recent months as it is vulnerable to changes in the international markets, given India’s high reliance on imports

The Hindu

Four experts have their say on Rishi Sunak's £15bn cost-of-living package

Even with these payments, households on the lowest incomes are still likely to struggle

Wales Online

Iran Summons Swiss Envoy over US Seizure of Iranian Oil

Iran on Friday summoned the envoy of Switzerland, which represents US interests in Tehran, to protest against the US seizure of Iranian oil from a Russian-operated ship near Greece, the foreign ministry said in a statement quoted by Iranian media. The ministry called for the immediate release of the ship…

Asharq Al-Awsat

Can you make perfume from kitchen cupboard vanilla?

Scents can be expensive, vanilla essence isn’t – maybe an alternative to designer brands is lurking among your baking essentials

The Guardian - UK

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Reuters

Iran summons Swiss envoy over U.S seizure of Iranian oil -ISNA

Iran on Friday summoned the envoy of Switzerland, which represents U.S. interests in Tehran, to protest the U.S. seizure of Iranian oil from a Russian-operated ship near Greece, the foreign ministry said in a statement quoted by Iranian media.

Asharq Al-Awsat

Al-Falih: We Have Quadrupled Foreign Investment Flows

It might seem somewhat strange for one of the biggest electric car producers to open a factory in one of the world’s major oil-producing countries, but it actually boils down to the story of the most exciting economic transformation of the 21st century. “It is one of the most exciting…

The Times of India

More Russian oil than ever before is heading for India, China

NEW DELHI: A record volume of Russian oil is on board tankers, with unprecedented amounts heading to India and China as other nations restrict imports because of the war in Ukraine.

The Guardian - US

They once worked for big oil’s enablers. Now they refuse to be complicit

Workers within industries that prop up fossil fuels said they could no longer ignore the climate crisis. So they quit

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Zenger

Stalking Pictures: Cops Release CCTV Images Of Beauty Who Stole Art Masterpiece

Cops in Germany have released CCTV images of the “striking” brunette who stole a six-figure valued 1561 Pieter Aertsen oil painting from a museum.

Asharq Al-Awsat

Nasrallah's Call for Dialogue over Defense Strategy Is Widely Rejected by Lebanese Parties

Hezbollah chief Hassan Nasrallah's call on Lebanese political forces to hold dialogue over a national defense strategy has been widely rejected by his rivals. In remarks marking "Resistance and Liberation" Day on Wednesday, Nasrallah suggested that the dialogue would pave the way for Lebanon to drill for offshore gas and…

The Guardian - UK

What hope is there for diplomacy in ending the Russia-Ukraine war?

Analysis: Western leaders are divided on arming Ukraine, oil embargoes and whether Kyiv will have to accept territory loss

The Guardian - AU

New Zealand woman creates her own electric car for $24,000

Rosemary Penwarden says the vehicle, powered by home rooftop solar, has been running smoothly for three years and has thanked oil companies for the motivation

The Times of India

Odisha: Oil spills into Paradip farmlands as pipeline bursts

KENDRAPADA: A major disaster was averted at the port town of Paradip in Odisha's Jagatsinghpur district on Thursday after the Indian Oil's Paradip-Haldia pipeline burst near the refinery there. It took the Indian Oil Corporation Limited (IOCL) more than four hours to repair the damaged pipeline. No loss of life…

StockNews.com

Why This Could Be the Long Awaited Bear Rally

Over the last couple of weeks, we've increased our allocation of stocks. Last week and earlier this week, I was uncertain whether this was the correct move. But, the last 2 days of market action are validating those moves as the S&P 500 (SPY) finally seems to be commencing its…

Al Jazeera

Despite pain at the pump, Americans are hitting the road

Heading into the US summer driving season, Americans are fueling up but how long before they have to hit the brakes?

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