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The Latest Breaking News from Oil

PZ Cussons narrows profit guidance and sells stake in Nigerian palm oil firm

The London-listed firm said its profit outlook has been impacted by £2 million of new packaging recycling costs.

Evening Standard

Trump promised riches from ‘liquid gold’ in the US. Now fossil fuel donors are benefiting

How Kelcy Warren, one of Trump’s biggest industry backers, and his pipeline firm are likely to flourish in his second term

The Guardian - US

UK inflation to edge higher if oil prices push up energy costs, experts warn

Experts have said that inflation is set to remain elevated over the coming months, particularly if global oil prices continue to spike.

Evening Standard

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Indigenous protest as Brazil sells Amazon oil blocks

Indigenous groups and environmental activists rallied in Rio de Janeiro on Tuesday as Brazil auctioned off oil blocks near the ecologically sensitive Amazon River mouth.

Euronews

European shares show slight rise despite Iran-Israel crisis, while oil stays high

Israel and Iran continued to exchange airstrikes on Wednesday while the US moved fighter jets to the region.

Euronews

FTSE 100 Live 18 June: Food and oil prices cloud rates outlook, index steady

Interest rate speculation and Middle East uncertainty today held back European markets during a lacklustre session for the FTSE 100 index.

Evening Standard

Agrifood giant Wilmar hands over almost two-thirds of its annual profit to Indonesia as ‘security deposit’ for palm oil corruption case

Shares in Wilmar, one of a handful of Southeast Asian firms to make the Global 500, dropped 3% on the news.

Fortune

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Asian shares are mixed and oil prices rise as escalating Iran-Israel crisis hits Wall Street

Asian shares are mixed and oil prices have advanced after the escalation of conflict in the Middle East hit Wall Street

The Independent UK

Oil prices spike, US stocks fall on Israel-Iran crisis

Crude oil prices jump more than 4 percent on fears the US may join Israel’s offensive against Iran.

Al Jazeera

Artist Eric Smith won 3 Archibalds, then vanished. A new show reveals his unseen works

There are many routes to artistic obscurity. The surest path, of course, is to have never been discovered in the first place. But this wasn’t the case with the late Eric Smith (1919-2017).

The Conversation

Oil Stabilises After Surge, Stocks Drop As Mideast Crisis Fuels Jitters

Oil prices stabilised Wednesday after surging the previous day on fears of a US intervention in the Israel-Iran conflict sparked by Donald Trump calling for Tehran's "unconditional surrender".

International Business Times

Back-to-back Cats: Panthers repeat as Stanley Cup champions by beating the Oilers in 6 games

The Florida Panthers repeated as Stanley Cup champions by beating the Edmonton Oilers 5-1 in Game 6 of the final

The Independent UK

Miners weigh on shares as iron ore continues decline

Australian shares have continued to slip, as global growth concerns push miners lower and the ongoing Middle East conflict weighs on investor confidence.

AAP

US and Iran have a long, complicated history, spanning far beyond Israel’s strikes on Tehran

Relations between the United States and Iran have been fraught for decades – at least since the U.S. helped overthrow a democracy-minded prime minister, Mohammed Mossadegh, in August 1953. The U.S. then supported the long, repressive reign of the Shah of Iran, whose security services brutalized Iranian citizens for decades.

The Conversation

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AAP

Australia slaps sanctions on Russian 'shadow fleet'

A shadowy network of ships Russia uses to trade goods such as oil in contravention of sanctions has been targeted by Australia for the first time.

Barchart

Grains, Unrest, & Gold: What Middle East Tensions Mean for Your Portfolio Now

Darin Newsom discusses mixed grain and livestock markets, attributing crude oil support to Middle East tensions and explaining gold's rally due to global distrust in the U.S. dollar, while noting financial indices appear toppy and grain markets remain range-bound due to ample supply and a lack of significant weather issues,…

The Guardian - US

Ukraine left in lurch as Trump rushes out of G7 without meeting Zelenskyy

US president said he had to leave to focus on Israel-Iran conflict, without addressing Russia-Ukraine ceasefire

Evening Standard

Coalition of the willing to reconvene ‘in weeks’ as UK pushes Russian oil cap

The Prime Minister on Tuesday announced a series of measures aimed at ramping up pressure on Vladimir Putin.

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news in one place.

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Motor1

'They Can't Filter It Out All the Way:' Walmart Service Tech Changes Customer's Oil. Then She Puts In Recycled Oil

A Walmart service tech just made a bold claim about the company’s auto care centers: They allegedly use recycled oil, not fresh oil, during customer oil changes.

Barchart

Stocks Tumble and Oil Surges on Middle East Jitters

The S&P 500 Index ($SPX ) (SPY ) Tuesday closed down -0.84%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.70%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -1.00%. June E-mini S&P futures (ESM25 ) are down -0.86%, and June E-mini Nasdaq futures...

International Business Times

EU Chief Says Pressure Off For Lower Russia Oil Price Cap

EU Commission Chief Ursula von der Leyen on Tuesday said surging energy prices have reduced the urgency to slash the price cap on Russia's global oil exports.

Fortune

Stocks sink amid instability in the Middle East, Fed decision

The S&P 500 dropped as Trump weighs whether to enter Israel’s war with Iran.

Barchart

Crude Prices Surge as Middle East Tensions Escalate

July WTI crude oil (CLN25 ) Tuesday closed up +3.07 (+4.28%), and July RBOB gasoline (RBN25 ) closed up +0.0520 (+2.34%). Crude oil prices rallied sharply on Tuesday on the increase in Middle East tensions after President Trump downplayed the prospects for an early end to the Israel-Iran war. President...

The Independent UK

Brazil auctions off several Amazon oil sites despite environmentalists and Indigenous protests

Brazil has auctioned off several land and offshore potential oil sites near the Amazon River, aiming to expand production in untapped regions despite protests from environmental and Indigenous groups

Fortune

Ethereum critics say it has failed—but boosters say cryptocurrency has become ‘digital oil’

The second largest cryptocurrency has lagged behind Bitcoin in price and is still about 50% below all-time highs in 2021.

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