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The Latest Breaking News from Oil

More than 100 container ships rerouted from Suez canal to avoid Houthi attacks

Cape of Good Hope diversion adds 6,000 nautical miles and three or four weeks to delivery times and has driven up oil prices

The Guardian - UK

Energy price cap in Great Britain to fall by 14% in April, says forecaster

Cheaper oil and gas expected to fuel drop in annual bills by £268 to £1,660

The Guardian - UK

Dutch bank ING says it is accelerating its shift away from funding fossil fuels after COP28 deal

Dutch bank ING says it is accelerating its phasing out of funding for oil and gas exploration and production activities while it increases financing for renewable energy

The Independent UK

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Market Optimism: Asian Shares Rise as Rate Cut Fever Continues

Get ready for a wild ride as Asian shares surge amidst an ongoing fever for a U.S. rate cut! Oil holds its gains, adding to the thrill of the markets.

Top News

Red Sea Boost: Oil Prices Rise as Traders Keep Watch

Oil prices tick higher as the energy market eagerly keeps tabs on Red Sea developments. Find out how this aquatic adventure impacts global crude oil prices.

Top News

Waning Influence Of OPEC+ In Spotlight As Prices Flag

Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum Exporting Countries (OPEC) and its ten allies have struggled to boost flagging prices.

International Business Times

UK Petrol Prices Hit a Two-Year Low Amid Drivers Contending Fluctuating Prices and Economic Uncertainties

Declining demand, increased oil production from key oil-producing nations, and geopolitical factors contributed to the downward trend in UK petrol prices.

International Business Times UK

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Volunteers, Aid Workers Rally To Help Guinea After Fuel Depot Fire

Foreign rescue and aid workers, along with the UN and volunteers, rallied Tuesday to help victims of the explosion and fire at Guinea's main oil depot on Monday that killed 18 people, injured 212 others and prompted concerns about fuel supplies.

International Business Times

Maersk reroutes ships due to Houthi attacks, oil prices spike

Maersk's bold decision to reroute shipping away from the Red Sea due to Houthi attacks prompts an international coalition to secure the region and ensure s...

Top News

Crude Closes Higher due to Oil Tanker Risks in the Red Sea

January WTI crude oil (CLF24 ) on Tuesday closed up +0.97 (+1.34%), and Jan RBOB gasoline (RBF24 ) closed up +4.18 (+1.94%). Crude oil and gasoline prices on Tuesday settled moderately higher but remained below Monday's 2-week highs. A weaker dollar on Tuesday was bullish for energy prices. Also, geopolitical...

Barchart

D.C. Circuit Rejects Oil Company Attempt to Remove District's Climate Suit to Federal Court

Yet another federal circuit court of appeals rejects energy company removal claims.

Reason

Houthi attacks prompt international coalition; oil prices may be affected

Join the exciting journey as the U.S. leads a 10-country team to counter reckless Houthi rebel attacks. Discover how this international coalition tackles t...

Top News

UK warship joins US-led international force to combat attacks on ships in Red Sea

Iranian-backed Houthi militants have vowed to continue their attacks on vessels

The Independent UK

Crude Prices Supported by Oil Tanker Risks in Red Sea

January WTI crude oil (CLF24 ) this morning is up +1.36 (+1.88%), and Jan RBOB gasoline (RBF24 ) is up +3.14 (+1.46%). Crude oil and gasoline prices this morning are moderately higher but remain below Monday's 2-week highs. A weaker dollar today is bullish for energy prices. Also, geopolitical risks...

Barchart

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The Guardian - UK

Root and branch reform: if carbon markets aren’t working, how do we save our forests?

The world has looked to offsetting schemes to protect forests, fund conservation and fight the climate crisis – but many fail to fulfil their promises. Here are five ways to keep our forests standing

The Independent UK

British Museum to receive £50m in funding from oil giant BP

BP will donate £50m to help with the renovation of the museum as climate groups slammed decision

Motorsport

Lucas Oil expands sponsorship of RCR and driver Kyle Busch

The Indianapolis, Ind.-based Lucas Oil Products has served as the official lubricant of RCR and ECR Engines since 2014 and is the official motor oil of ECR Engines.

Al Jazeera

Can the US-led maritime force stop Yemen’s Houthi attacks during Gaza war?

Houthis say attacks won’t stop unless Israel’s do. Shipping industry doesn’t appear convinced task force can halt them.

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Christmas dinner quicker! How to cook roast potatoes, Brussel sprouts and more in an air fryer

From roast potatoes to Brussel sprouts, here’s 5 Christmas sides recipes to try in an air fryer

The Guardian - US

Is the US going to approve the single biggest fossil-fuel expansion on earth?

Biden has a chance to show that the world’s biggest exporter of oil and gas is actually going to change its ways. It’s not clear if he’ll take it

Radio France Internationale

France's TotalEnergies to invest billions in Nigeria

French energy giant TotalEnergies is ready to invest $6 billion (5.5 billion euro) over several years in Nigeria's oil and energy industry, especially in gas and offshore projects.

The Independent UK

Stock market today: Asian shares are mixed as Bank of Japan keeps its monetary policy unchanged

Asian shares are mixed after a seven-week winning streak on Wall Street cooled

The Guardian - US

US launches Red Sea protection force after Houthi attacks – as it happened

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Top News

Sinochem Secures Venezuelan Oil as US Sanctions Relax!

China's Sinochem seizes a rare opportunity, swooping in on a Venezuelan oil cargo as the U.S. momentarily lifts sanctions. An intriguing geopolitical dance!

The Guardian - AU

Red Sea crisis explained: what is happening and what does it mean for global trade?

Attacks from the Houthis on shipping vessels have increased in response to the war in Gaza, with BP halting all shipments of oil and gas through the region

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