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The Latest Breaking News from Oil

Gavin Newsom Slams Chevron, Says Gas Prices Still 'Elevated' Due to Trump's 'Reckless' Iran War: 'Skip the Brand Names'

Gov. Gavin Newsom (D-CA) has reaffirmed his call to snub energy giant Chevron Corp‘s (NYSE:CVX) gas stations, accusing oil companies of profiting from high costs as ordinary Americans continue paying more at the pump amid the Iran war.

Benzinga

One tycoon makes millions from 'dark' journeys on a dangerous oil route while others feared Hormuz

Amidst the Persian Gulf war, the UAE secretly navigated its oil exports through the Strait of Hormuz using 'dark' ship transits. Korean shipping tycoon Ga-Hyun Chung's Sinokor Group played a pivotal role, leasing a significant portion of vessels for these risky "shuttle runs." This covert operation allowed the UAE to…

The Economic Times

Bill Ackman Backs Exiled Russian Oligarch's Fuel Crisis Warning: Russia's Government Has Done More Damage Than Ukrainian Drones

Investor Bill Ackman on Sunday shared comments from exiled Russian oligarch Mikhail Khodorkovsky, who warned that Russia was facing a growing fuel crisis as repeated refinery attacks by Ukraine and logistical bottlenecks disrupt gasoline and diesel supplies across the country.

Benzinga

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Gold prices fall after 4-day rally; silver down Rs 1,200/kg despite easing rate hike fears. What are experts saying?

Gold and silver prices dipped on the MCX Monday, ending a four-day rally as investors took profits. This occurred despite easing concerns about U.S. Federal Reserve rate hikes, following softer jobs data and falling oil prices.

The Economic Times

Fuel made from cooking oil to be used at Aussie airport

Australia's first sustainable aviation fuel tank and pipeline has been cleared for takeoff, paving the way for cleaner flights and a new homegrown industry.

AAP

Iran exploring oil sales to Japan, buyers seek longer sanctions waiver, sources say

Iran is currently in discussions with Japanese companies regarding the potential resumption of oil sales, backed by a U.S. sanctions waiver that expires on August 21. Purchasers are advocating for a longer waiver and enhanced protections for shipping, following troubling occurrences in the Strait of Hormuz. Initial conversations are taking…

The Economic Times

Oil Price Today (July 6): Crude oil extends fall, hovers below $72. Here are 2 major reasons for the decline

Brent crude futures slipped 24 cents, or 0.e33%, to $71.88 a barrel. U.S. West Texas Intermediate crude fell 11 cents, or 0.16%, to $68.58 a barrel. WTI did not settle on Friday as U.S. markets remained closed ahead of the Independence Day holiday on Saturday.

The Economic Times

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What Combination Skin Really Means for Indian Women and Why Your Skincare Routine Is Making It Worse

The Definition Most Routines Get WrongCombination skin does not mean your face cannot make up its mind. It means two genuinely different skin environments exist on the same face, each with different sebum output, different barrier thickness, and different needs. The T-zone, forehead, nose, chin, produces more oil because it…

Times Life

OPEC+ to boost crude output, but can it deliver and who will buy?

OPEC+ has boosted oil production quotas for the fifth consecutive month, raising questions about shipping capacity and buyer demand. While Middle East exports are recovering post-conflict, they remain below pre-war levels. The market anticipates a return to oversupply, contingent on stable shipping routes and China's re-entry into the market, which…

The Economic Times

Global Market Today: Shares edge higher in Asia as oil dips, earnings loom

Asian markets saw gains as Wall Street futures rose, buoyed by hopes of strong earnings and easing oil prices. Reduced inflation fears have lessened the likelihood of a near-term Federal Reserve rate hike, allowing investors to anticipate a tech profit boom driven by AI. Samsung Electronics is expected to report…

The Economic Times

Oil slips after OPEC+ agrees to raise output targets

Oil prices dipped as OPEC+ agreed to boost output from August, with key producers seeing recovering exports via the Strait of Hormuz. Despite the planned increase, actual output may be capped due to ongoing geopolitical tensions. Gulf oil exports are reviving but still lag pre-conflict levels, while Russia's crude shipments…

The Economic Times

100 bougie-ass things that are so cool & so cheap on Amazon

I scoured the recesses of Amazon to put together this list of bougie-ass things that are extremely cool and also shockingly cheap.

Mic

Upbeat outlook for tourism-related stocks

As geopolitical conflicts in the Middle East have begun to soften, the global investor spotlight is shifting back to fundamental economic drivers. The de-escalation of the US-Iran war caused oil prices to dip, allowing tourism-related industries to recover from steep declines during the peak of the tensions.

Bangkok Post

7 OPEC+ countries agree to expand monthly oil production modestly as prices slide

A handful of countries in the OPEC+ oil-producing alliance are planning to increase their outputs modestly next month

The Independent UK

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Bangkok Post

Broken lives

When renowned artist Pichai Pongsasaovapark was in Pattani, he was stunned to see large piles of scrap wood from decommissioned fishing boats that had been demolished by cranes. These scraps of wood were distributed to local villagers to be used as firewood for boiling anchovies.

International Business Times

OPEC+ Raises Output Target For August. Smooth Sailing Seen For Oil Price Trajectory

OPEC+ has agreed to a provide a significant boost to oil output by raising targets from August aimed to further add to global oil supplies after the Middle East conflict spurred prices to as high as $120 a barrel.

Benzinga

OPEC+ Agrees To Raise Output Even as Hormuz Shipping Security Remains Uncertain

OPEC+ members agreed to raise their collective oil‑production quotas from August even as crude shipments through the Strait of Hormuz remain uncertain.

Marie Claire

I Tried Every Product From the new e.l.f. Hair Collection—Here's What's Worth Buying

Eyes, lips, face—and now, hair.

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The Economic Times

Falling oil prices give RBI more room to focus on growth, but relief uneven across Asia: Standard Chartered

Falling crude oil prices are providing a significant boost to India and other Asian nations, allowing central banks to prioritize economic growth. This "disinflationary relief" eases pressure on external accounts, especially for heavy energy importers like India, Thailand, and the Philippines. While some economies like South Korea may still face…

The Economic Times

Govt denies reports of Bhutan rejecting India's E20 fuel

India's Petroleum Ministry has debunked claims that Bhutan rejected E20 petrol imports, stating no such offer was ever made. The ministry emphasized that reports suggesting otherwise are inaccurate and urged reliance on official sources. This clarification follows allegations by Congress regarding several neighboring countries refusing India's fuel. The government also…

The Independent UK

Ukraine-Russia war latest: Putin hits Kyiv with ballistic missiles hours after Zelensky said attack ‘imminent’

Deadly attack comes hours after White House confirms Zelensky-Trump meeting at Nato summit in Turkey

The Economic Times

Government raises ONGC chairman entry age to 59, offers up to five-year tenure

The government has broadened the eligibility for ONGC's next chairman, raising the maximum entry age to 59 and offering a three-year term extendable by two years. This move aims to widen the candidate pool for India's largest oil producer. The selection process will now involve a search-cum-selection committee, a departure…

The Economic Times

Will Sensex, Nifty continue to rally on Monday? Q1 earnings among 6 factors to drive Dalal Street this week

Sensex gained around 262 points to close at 77,764 on Friday, while Nifty 50 rose more than 95 points to end the session above 24,270 during Friday's trading session. The sharp gains added nearly Rs 44,155 crore to the total market capitalisation of all companies listed on BSE, pulling it…

The Guardian - UK

Make Ed Miliband chancellor, ex-chief Treasury adviser tells Andy Burnham

Nicholas Stern joins growing number backing Miliband, saying he has vision and experience to revive economy

The Economic Times

After E20 petrol, Nitin Gadkari pushes for 15% isobutanol-blended diesel: What it is and why it matters

India is set to embrace a new biofuel initiative, allowing up to 15% isobutanol blending with diesel. This strategic move aims to curb reliance on imported crude oil and promote cleaner energy alternatives. Isobutanol, derived from ethanol, offers superior properties over direct ethanol blending, making it a promising substitute for…

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