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The Latest Breaking News from Oil

BP boardroom turmoil deepens as ousted chair hits back at ‘lies’ over conduct

Albert Manifold disputes reports about his behaviour and says he always tried to set example

The Guardian - UK

Starmer ‘urged to reconsider North Sea drilling’ amid rising oil costs

IN FULL

The Independent UK

World shares decline and oil prices gain more than $2 after US strikes on Iran

Shares have fallen in Asia after the U.S. conducted what the military said were defensive strikes against Iran

AAP

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read the most diverse news in one place.

Starmer ‘facing calls to rethink approach to North Sea drilling’ as oil prices spiral

While Sir Keir has argued that new drilling in the North Sea would not reduce domestic oil prices because they are set internationally, some ministers and industry figures are now thought to be challenging this claim

The Independent UK

Asia is already grappling with a fuel crisis. A 'Super El Nino' threatens to make things worse

Drought and high temperatures will strain power grids right as countries are still scrambling for limited oil and gas supplies.

Fortune

Newsletter: ‘A dangerous place’, Magyar’s moment and Europe’s mouthpiece

As the International Energy Agency warns of the fallout from sky-high energy prices prompted by the war in the Middle East, the Hungarian Prime Minister Péter Magyar comes to town aiming to unlock billions of frozen EU funds – while the bloc thrashes out whether to speak to Moscow.

Euronews

Exclusive: IEA chief Birol warns Europe easing Russian energy sanctions would be 'major mistake'

IEA chief says “knocking on Russia’s door” would be a repeat of past mistakes, even as the EU is rattled by a price shock stemming from the Strait of Hormuz shutdown. Agency warns of "biggest energy security crisis ever".

Euronews

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FED:Shares drop and oil surges as US, Iran trade strikes

Miners, banks and IT stocks have dragged on the local bourse, after renewed hostilities in the Persian Gulf rattled an already fragile US-Iran ceasefire.

AAP

World faces biggest-ever energy security crisis as Iran war disrupts fuel flows, warns IEA

The world faces an unprecedented energy security crisis, forcing nations to seek new supply routes and boost domestic production. The International Energy Agency warns this will reshape global investment, mirroring the 1970s oil shocks. While renewables and nuclear power see growth, natural gas and even coal are experiencing a resurgence…

The Economic Times

India may soon let consumers choose ethanol-blended petrol based on their cars: Report

Consumers will soon have more choices at petrol pumps across India. New ethanol-blended petrol variants like E20, E22, E25, and E30 will become available. This move aims to reduce crude oil imports and enhance energy security. Vehicle owners can select fuel based on their car's compatibility.

The Economic Times

Global clean-energy manufacturing supply far exceeds demand

Global clean-energy manufacturing capacity now exceeds demand. Asia, led by China, dominates production, pushing prices down. This oversupply benefits clean energy as an alternative to rising oil prices.

The Economic Times

Tom Parker Bowles on the recipes that prove meat can be sustainable

As a new edition of ‘Let’s Eat Meat’ is released, Tom Parker Bowles shares recipes for pork with clams, harissa chicken kebabs and proper Cornish pasties – alongside his philosophy of buying better, wasting less and using every last scrap

The Independent UK

Global Market Check: Foreign investors buy Japanese stocks for 8th week on AI rally

Foreign investors continue to show strong interest in Japanese stocks, marking an eighth consecutive week of purchases. This trend is fueled by falling oil prices and a surge in AI-related shares. Investors are optimistic about the demand outlook for AI chips, with companies like Nvidia and SoftBank Group seeing significant…

The Economic Times

3 Cosy Winter Recipes That Are Delicious And Fool-Proof (Me, I Am The Fool)

Plus, they're good for your guts.

Pedestrian.tv

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The Independent UK

Iran-US war latest: Deal to extend ceasefire and reopen Strait of Hormuz ‘just needs Trump signature’

Iranian media denied reports that a draft agreement of ceasefire extension is with Trump for approval

The Economic Times

US Stocks Market: Rising treasury yields and oil prices fuel stronger dollar bets

Amid rising geopolitical tensions and higher energy prices linked to the Iran conflict, investors are increasingly betting that the Federal Reserve will prioritize inflation control and maintain higher interest rates.

The Economic Times

ONGC yet to take control of Cambay Block as Vedanta challenges govt move

ONGC has not yet taken control of the Cambay basin block CB-OS-02. Vedanta is challenging the government's decision to reject the contract extension. The Delhi High Court has ordered parties to maintain the status quo. Vedanta continues to operate the block pending the court's decision. ONGC remains ready to assume…

The Economic Times

US Stock Market: Mortgage rates hit 9-month high as inflation worries deepen

US mortgage rates reached a nine-month high of 6.65% last week, driven by elevated oil prices and inflation concerns. This surge, coupled with a persistent housing shortage and the "rate lock-in" effect, is intensifying affordability challenges for prospective buyers. Mortgage applications saw a significant decline as borrowing costs increased.

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news in one place.

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The Economic Times

Copper hits one-week low as Middle East escalation clouds growth outlook

Copper prices dropped to a one-week low on Thursday as renewed Middle East tensions boosted the dollar and oil, sparking inflation and slowdown fears. U.S. strikes targeting an Iranian drone operation in the Strait of Hormuz contributed to market unease. Base metal prices are expected to trade sideways pending a…

Latin Times

Rubio Says Over 10 Million Barrels of Venezuelan Oil Delivered to the U.S. Since January

As a new geopolitical partnership takes shape, the White House touts an era of cooperation with Venezuela — but analysts urge caution over long-term oil production expectations.

AAP

Asian shares decline and oil prices up more than $1 after US strikes on Iran

Shares are mostly lower in Asia after the U.S. conducted what the military said were defensive strikes against Iran

The Economic Times

US warns ties with Iran’s Strait of Hormuz authority may bring sanctions for 'anyone' involved

America has issued a stern warning to global shipping and finance firms. Cooperation with Iran's new Persian Gulf Strait Authority could invite US sanctions. This move escalates pressure on Tehran's control over the vital Strait of Hormuz. The US Treasury Department stated that such cooperation might support Iran's Revolutionary Guard…

The Economic Times

Three oil, LNG tankers exit Hormuz with transponders off

Two supertankers and an LNG tanker, with transponders off, exited the Strait of Hormuz bound for India and China. These vessels, carrying crude oil and naphtha, are heading to ports in China and India, despite overall limited traffic through the key waterway. The ongoing conflict has significantly impacted shipping in…

Bangkok Post

Pacific island climate fund invests in fossil fuels

SYDNEY - A trust fund set up to help a South Pacific island nation gravely threatened by climate change has invested in coal mining, gas exploration and the world’s largest crude oil refinery, an AFP investigation has revealed.

The Economic Times

Gold hits two-month low as fresh US-Iran strikes fuel inflation fears, hurt peace hopes

Gold prices fell to a two-month low on Thursday. This happened after new U.S. strikes in Iran boosted the dollar and oil prices. Concerns about inflation and interest rates increased. Spot gold dropped to $4,406.81 per ounce. Other precious metals also saw declines. Investors are now watching U.S. economic data…

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