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The Latest Breaking News from Oil

Also hit by inflation? Your local taco truck

Higher prices for gasoline, meat and vegetables and even cooking oil have put pressure on food trucks as they struggle to balance menu prices with customers' expectations of a low-cost meal.

WEKU

Oil levy decision expected on Wednesday

Energy Minister Supattanapong Punmeechaow expects a decision on Wednesday on the extent of oil refiners' contributions to the state Oil Fuel Fund to help keep pump prices down.

Bangkok Post

Israel Threatens to Target Iranian Oil Tankers Suspected of Transferring Weapons to Syria

Israel threatened on Sunday to target Iranian oil tankers heading to Syria if their cargo was not inspected. According to an unsourced report by Channel 12 news, Israel demanded that the United States monitor Iran’s transfer of oil to Syria and obtain the required information in this regard to ensure…

Asharq Al-Awsat

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Gas prices are falling. The reason why is a bummer

Gas and oil prices are heading in the right direction, finally. But the reasons why might be no cause for celebration.

Tribune News Service

Asian shares mostly higher after wobbly day on Wall Street

Asian shares are mostly higher after a wobbly day on Wall Street as markets cooled off following a rare winning week

The Independent UK

G7 agrees to explore cap on Russian oil price

The Group of Seven economic powers have agreed to explore imposing a ban on transporting Russian oil that has been sold above a certain price, they said on Tuesday, aiming to deplete Moscow's war chest.

Reuters

FTSE 100 Live: Brent crude price rise continues, Nike shares fall

Oil supply issues and the possibility of a price cap on Russian energy exports today ensured no let-up in inflationary pressures.

Evening Standard

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Asian Markets' Rally Fizzles as Rates, Inflation Fears Return

Asian markets mostly fell Tuesday as investors struggled to maintain a recent rally while weighing central banks' inflation-fighting rate hikes and the possibility of a recession. Renewed concerns about thinning supplies and rising demand also helped push oil even higher, after enjoying a big bounce Monday, said AFP. Shares rallied…

Asharq Al-Awsat

Sri Lanka rushes to find fuel as shortages hit schools, workers

A Sri Lankan government minister was in Qatar on Tuesday and another will travel to Russia at the weekend in search of energy deals to alleviate a severe fuel shortage that is crippling the economy of the island nation and forcing many schools to close.

Reuters

NATO to invite Finland and Sweden to join after Turkey lifts objections

NATO leaders will formally invite Finland and Sweden to join the alliance Wednesday after the two Nordic countries reached an agreement with Turkey, NATO chief Jens Stoltenberg said Tuesday. Turkish President Recep Tayyip Erdogan’s office said Helsinki and Stockholm agreed “to cooperate fully with Turkey in its fight” against the…

France 24

Fuel firms accused of ‘rocket and feather pricing’ as petrol hits new high

'Retailers are quick to hike prices when oil costs rise but slow to pass on the benefits when they fall'

Wales Online

US officials back in Venezuela in a bid to rebuild ties

Senior Biden administration officials have quietly traveled to Caracas in the latest bid to rebuild relations with the South American oil giant as the war in Ukraine drags on, driving higher gas prices and forcing the U.S. to recalibrate other foreign policy objectives

The Independent UK

Bengaluru Metropolitan Transport Corporation buses to queue up at private fuel stations

BENGALURU: Don't get rattled if a bulky BMTC bus pulls up behind or next to your vehicle at a fuel station. Going forward, BMTC buses will fill up on diesel at private bunks across the city to beat the skyrocketing fuel prices.

The Times of India

Pipeline Technique acquires Stanley's oil and gas division

Latest deal creates group with revenues in excess of $200m and grows headcount from 350 to more than 1,000

Insider UK

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Tribune News Service

Iran and US heading to Qatar in latest bid to save nuclear accord

Iran’s chief nuclear negotiator and his U.S. counterpart are heading to Doha, Qatar in the latest attempt to revive the 2015 nuclear deal and end a months-long standoff that has inflamed tensions in the oil-rich Persian Gulf.

Bangkok Post

Reviving a lost art

Sitting in the front row of an independent movie house, Piak Poster, 90, looks at a photo of his original work on screen -- the pulpy handmade bai pid or film poster of Fah Talai Jone (Tears Of The Black Tiger, 2000). However, he could not remember how he made…

The Canberra Times

Purple reigns in the garden, a superfood in dishes

Try purple carrots in this delicious soup

Benzinga

Crude Oil Surges 2.5%; Evofem Biosciences Shares Jump

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite dropping over 50 points on Monday.

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France 24

Wartime economy: Can G7 stare down Russia over Ukraine?

Who has got who over a barrel? G7 leaders are pushing the idea of capping the price they pay for Russian oil and gas, effectively forcing Moscow to choose whether to supply at a discount or cut off the revenue stream of its pipelines.

The Independent UK

Qatar Energy to cut emissions as methane movement grows

The state-owned oil and gas company Qatar Energy says it is joining a new industry initiative aiming to reduce nearly all methane emissions from their operations by 2030

The Guardian - UK

The Guardian view on defunding the Kremlin’s war machine: more must be done

Editorial: G7 leaders are right to promote a global price cap on Russian oil and gas

Asharq Al-Awsat

Schlumberger Says It Will Not Apply for Iraqi Kurdistan Oil, Gas Tenders

US energy company Schlumberger has said it will not apply without Baghdad's consent for any tenders in the oil and gas sector of Iraq's Kurdistan region, according to a letter sent to the Iraqi oil minister and seen by Reuters. Schlumberger said it would comply with a February ruling by…

Reuters

Macron tells Biden that UAE, Saudi can barely raise oil output

French President Emmanuel Macron said on Monday the president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan (MbZ), had told him two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production.

Benzinga

Crude Oil Is Consolidating

By RoboForex Analytical Department

The Independent UK

Oil price cap could strike Russia's war chest — if enforced

Leaders of the world's biggest developed economies are looking for ways to cut off Russian President Vladimir Putin's oil money, which is helping finance the war against Ukraine

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Supattanapong Punmeechaow

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