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The Latest Breaking News from Oil

EXPLAINER: What's the impact if Europe cuts off Russian oil?

The European Union's executive commission has proposed phasing out imports of Russian oil within six months

The Independent UK

India's central bank raises interest rate to tame inflation

India’s central bank has raised its key interest rate to 4.4% from 4% to try to contain fast-rising inflation

The Independent UK

Kremlin Dismisses Speculation Putin to Declare War on Ukraine on May 9

The Kremlin on Wednesday dismissed speculation that President Vladimir Putin planned to declare war against Ukraine and declare a national mobilisation on May 9 when Russia commemorates the Soviet Union's victory in World War Two. Commenting on speculation that Putin will declare war against Ukraine on May 9, Kremlin spokesman…

Asharq Al-Awsat

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BP celebrates record profits - despite UK pensioner riding bus all day to stay warm

BP's underlying profits rose to $6.2 billion for the first quarter of this year

Bristol Post

EU chief proposes Russian oil ban in new round of sanctions

The proposal, if accepted by EU members, seeks to stop crude oil imports in six months, refined products by end of 2022.

Al Jazeera

First Thing: US shaken by supreme court draft overturning Roe v Wade

Biden condemns abortion opinion that, if handed down, would mean ‘fundamental shift’ in law and imperil many other rights

The Guardian - UK

EU chief calls for phased ban on Russian oil in fresh set of sanctions

The European Commission President Ursula Von der Leyen has proposed a phased oil embargo on Russia over its war in Ukraine, as well as sanctioning the country's top bank, in a bid to deepen Moscow's isolation.

Radio France Internationale

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Best lip oils for hydration and shine in one

Meet your new handbag hero: a balm-gloss hybrid for your pout

Evening Standard

Worley brings its tool box to Grimsby as it gears up to play key part in Energy Estuary engineering boom

Specialist Equipment Solutions is a wholly-owned business of the Australian multinational

Birmingham Post

Oil firms to reap £11.6bn unexpected wartime profits on UK fossil fuels, Greenpeace projects

‘Oil giants are pocketing mountains of cash off the back of Putin’s war, while millions of UK households are facing fuel poverty,’ Greenpeace UK says

The Independent UK

80 Biggest Movers From Yesterday

Gainers Blue Water Vaccines, Inc. (NASDAQ: BWV) shares jumped 93.1% to close at $6.45 on Tuesday on above-average volume.

Benzinga

How the oil and gas industry is trying to hold US public schools hostage

Fossil fuel interest groups are telling New Mexicans: let us keep drilling or the state’s education system will collapse

The Guardian - US

Energy firms investigated over 'rip off' increases to customers' direct debit payments

Claims customers are paying more than they should do to ease firms cash flow problems

Wales Online

The future of Twitter: Musk floats paid model as financing rumours swirl

Elon Musk says companies and governments might need to pay to use Twitter under his ownership, as the billionaire Tesla founder seeks more investors to cover the private financing of his $44 billion takeover deal. The US Fed gets set to hike interest rates, and soaring profits at oil companies…

France 24

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Benzinga

Earnings Scheduled For May 4, 2022

Companies Reporting Before The Bell • Seres Therapeutics (NASDAQ:MCRB) is estimated to report quarterly loss at $0.52 per share on revenue of $8.48 million.

Evening Standard

Best facial tanning sprays for a sunkissed glow

For an effortless summer-ready tan come rain or shine

Reuters

Factbox-EU proposes toughest sanctions yet against Russia

The European Commission on Wednesday proposed its sixth and toughest round of sanctions against Russia yet that could be signed off by ambassadors of EU governments later in the week.

Evening Standard

Russian missiles hit power stations in Lviv and crucial railways

Plumes of black smoke could be seen billowing from the sky above Lviv as Russian bombardment of the city continued

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Axios

EU leader announces plan to ban Russian oil imports

Ursula von der Leyen also proposed disconnecting 3 major Russian banks from SWIFT global banking payment system.

The Guardian - UK

Hungary objects to proposed EU ban on Russian oil imports

Slovakia also wants exemption despite Ursula von der Leyen saying crude must be prohibited in EU within six months

Tribune News Service

Stuart Rothenberg: Inflation, recession and the 2022 midterms

With six months to go until the 2022 midterm elections, the economic indicators continue to deteriorate for Democrats. While unemployment remains low and the economy continues to grow (except for a recent hiccup that few take seriously), inflation is up dramatically, and interest rates are spiking.

The Guardian - UK

Crossrail to finally open; German exports to Russia plunge; climate protests at Barclays AGM – as it happened

London’s Elizabeth line finally launching, while German exports to Russia fell nearly two-thirds in March and climate activists have disrupted two bank AGMs

The Independent UK

Oil prices surge as Europe signals ban on Russian imports

‘Today, we will propose to ban all Russian oil from Europe,’ says Ursula von der Leyen

WEKU

EU leader calls for Russian oil ban in new set of sanctions

The EU chief concedes that that getting all 27 member countries — some of them highly dependent on Russia for energy supplies — to agree on oil sanctions will be extremely difficult.

Asharq Al-Awsat

EU Plans Phased Oil Ban on Russia, Also Targeting More Banks

The European Union's chief executive on Wednesday proposed a phased oil embargo on Russia over its war in Ukraine, as well as sanctioning Russia's top bank and banning Russian broadcasters from European airwaves, in a bid to deepen Moscow's isolation. The plan, if agreed by EU governments, would mark a…

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