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The Latest Breaking News from Oil

Biden to meet Saudi king, prince MBS after human rights rift

Whether Joe Biden’s first trip to the Middle East as president ends a success or a failure may hinge on what happens when he first locks eyes with Saudi Arabia’s crown prince

The Independent UK

Fuming About Corporate Greed Won't Fix High Gas Prices

Rebutting Democrats' gaseous words on refiners' greed.

Reason

Roosevelt and Ibn Saud built groundwork for current world order, on a boat

On Friday, Joe Biden will pay his first visit to Saudi Arabia as President of the US. The Biden trip is the latest twist in the saga of one of the most unlikely alliances in modern history.

Radio France Internationale

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Why Is Pinterest Higher By 14%? 20 Stocks Moving In Friday's Pre-Market Session

Gainers United Maritime Corporation (NASDAQ: USEA) rose 55% to $3.41 in pre-market trading. United Maritime, on Tuesday, announced acquisition of four oil tankers and filed for stock offering on Wednesday.

Benzinga

Motorway speed limit must be reduced and driving on Sundays BANNED to lower petrol price

The International Energy Agency has shared some radical new ideas in its 10-point plan for Britain to cut its reliance on oil as petrol prices have soared in the UK in recent weeks

Daily Mirror

Ali Velshi: Biden can't fix the economy

From sky-high food prices to rising interest rates, here's why we're heading into recession — and what happens next

Salon

Saudi Arabia, US Set Record Levels of Non-Oil Trade Exchange

Trade relations between the United States and Saudi Arabia recovered from the pandemic's low levels in 2020, recording high exchanges of oil and non-oil goods in 2021. A report issued by the Washington-based Saudi-US Business Council indicated that total trade volume reached $24.7 billion, a 22 percent increase over 2020…

Asharq Al-Awsat

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Oil drilling to go ahead in Ugandan park despite threat to nature

Uganda’s President Museveni has endorsed the project, warning he won’t ‘allow anybody to play around’ with ‘my oil’.

Al Jazeera

Oil Rises on Prospects of Less Aggressive US Rate Hike

Oil prices rose on Friday amid prospects of a less aggressive US rate hike, although worries about a recovery in demand capped gains. Brent crude futures for September delivery rose 94 cents, or 1.0%, to $100.04 a barrel by 0630 GMT, while WTI crude rose 63 cents, or 0.7%, to…

Asharq Al-Awsat

Hezbollah Shifts Strategy from 'Defense' to Threatening Israel with Escalation

The maritime border dispute between Lebanon and Israel shifted Hezbollah's strategy from "commitment to defense" to threatening Tel Aviv with an attack. Hezbollah Sec-Gen Hassan Nasrallah warned of the outbreak of war if Lebanon was banned from extracting oil and gas from its water. The official statements of the party's…

Asharq Al-Awsat

G20 Finance Chiefs Meet as Indonesia Warns of Energy, Food Catastrophe

Group of 20 finance ministers and central bank chiefs from top economies met in Indonesia Friday for talks on the fallout from Russia's invasion of Ukraine, with the host warning them failure to tackle energy and food crises would be catastrophic. The two-day meeting on the resort island of Bali…

Asharq Al-Awsat

Biden confronts Saudi crown prince over Khashoggi murder, expects action on energy

U.S. President Joe Biden said on Friday he told Saudi Arabia's Crown Prince Mohammed bin Salman he held him responsible for the murder of Washington Post journalist Jamal Khashoggi, shortly after exchanging a fist bump with the kingdom's de facto ruler.

Reuters

Indonesia’s palm oil policy at a crossroads: why government interventions are ineffective

Indonesia has made several policy interventions to stabilise the price of cooking oil and address the causes of a gap in supply and demand of crude palm oil (CPO).

The Conversation

Groups back cooking palm oil price cut

Prices of palm oil for cooking are likely to dip further next week after manufacturers, department stores and modern trade outlets on Thursday agreed to cut the price of bottled palm oil by 5-6 baht per litre to 62 baht per bottle, in line with lower production costs and improving…

Bangkok Post

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The Independent UK

Will Joe Biden’s trip to Saudi Arabia affect US gas prices?

Issue weighs on president as midterms approach

Bangkok Post

PTT to commercialise 'rejuvenating DNA'

National oil and gas conglomerate PTT Plc has set an ambitious goal to commercialise a newly invented "rejuvenating DNA" with the potential to treat ageing-related illnesses as part of a cooperation with Chulalongkorn University.

Bangkok Post

Debate must dig deep

The political temperature will rise substantially next week as the awaited censure debate is due to start on Tuesday, even though Prime Minister Prayut Chan-o-cha's administration -- thanks to it holding a majority of seats -- is likely to survive the no-confidence motion, just as it did in the past.…

The Conversation

Breakthrough in gas separation and storage could fast-track shift to green hydrogen and significantly cut global energy use

In 2016, experts writing in Nature listed seven breakthroughs in how we process chemicals that could change the world for the better. We believe we’ve just ticked one of those off the list.

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The Texas Tribune

Inflation, high energy prices mean the Texas Legislature will have unprecedented funds to allocate next year

The state will have an extra $27 billion in its coffers in 2023 — money that could help pay for property tax cuts and other legislative priorities.

Axios

Khashoggi’s fiancée says Biden visit to Saudi Arabia is "heartbreaking"

"Biden will lose his moral authority by putting oil and expediency over principles and values."

The Conversation

Worried about high energy bills, some Canadians risk discomfort, illness and even death

Almost one in 10 Canadian households spend more than 10 per cent of their income to heat and cool their homes, keep the lights on and to store or cook food. For these households, the high cost of energy, which includes electricity, natural gas, heating oil and propane, means they…

The Times of India

Exports up 23.52% to $40.13 billion in June; trade deficit at record $26.18 billion

NEW DELHI: Exports in June rose by 23.52 per cent to $40.13 billion while the trade deficit ballooned to a record level of $26.18 billion mainly due to jump in gold and crude oil imports, the government data said on Thursday.

The Independent UK

MAGA pastor says climate activists are being controlled by ‘demons’

‘The environmentalists are crazy. They are more fanatical than al Qaeda’

The Times of India

Momentum in economy holding up better than expected: Finance ministry report

NEW DELHI: India’s macro risks have receded in the last six weeks due to the steps taken by the Centre and the Reserve Bank of India (RBI) and the decline in oil prices due to global recession fears, the finance ministry said in a report on Thursday, asserting that the…

StockNews.com

How Falling Oil Prices Will Impact These 3 Stocks

Recessionary fears have led to a drop in oil prices recently. However, oil demand is expected to remain robust this year, and analysts expect oil prices could top $150 per barrel. So, let’s discuss the near-term prospects of oil and gas stocks Chevron (CVX), Marathon Oil (MRO), and Cheniere Energy…

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