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The Latest Breaking News from Oil

Ecuador indigenous leaders say gas price cut not enough, protests to continue

Ecuadorean indigenous organizations said on Monday a 10-cent per gallon cut to gasoline and diesel prices announced by President Guillermo Lasso was not enough to halt two weeks of protests which have hit the country's weakened economy and threatened its oil production.

Reuters

Implored by Zelenskyy, Biden and G-7 allies will increase Ukraine defense aid, economic support

KRUN, Germany — In a videoconference Monday with the leaders of the world’s most powerful democracies, Ukrainian President Volodymyr Zelenskyy pressed for more advanced weaponry and defense systems to blunt Russia’s air attacks — and the U.S. plans to deliver just that.

Los Angeles Times

Sanctions against Russia: taking stock four months after the start of the war

On 23 February – the eve of Russia’s invasion of Ukraine – the Council of the European Union (EU) adopted the first package of sanctions in response to Moscow’s recognition of the self-proclaimed autonomous republics of Donetsk and Lugansk.

The Conversation

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G7 nations unite to address evolving global food crisis due to Russia-Ukraine conflict

The Group of Seven (G7) leaders on Monday held discussions on the impact of Russia's war on food and energy supplies including the global economy and said the bloc is determined to support Ukraine in producing and exporting grain, oil, and other agricultural products as well as to address the…

Dynamite News

4 Dirt Cheap Stocks That Could Skyrocket

While the market rebounded last week, the volatility is not expected to lessen anytime soon because of the recession fears. Therefore, it could be wise to invest in quality stocks Adams Resource & Energy (AE), Friedman Industries (FRD), First United (FUNC), and Gran Tierra (GTE), which have gained solid momentum…

StockNews.com

OPEC meeting and Australian retail sales top this week’s must-watch events

Oil cartel OPEC+ meets this week to discuss its production plans. It comes at a critical time for the crude oil market amid growing fears of a recession.

The New Daily

Critical race theory, Trumpism and doubt roil Biola University. Is this the future of evangelical Christianity?

LOS ANGELES — On a breezy Sunday afternoon, Biola University is a postcard of serenity. A soft light filters through a small prayer chapel where a plain wooden cross stands in front. At its base someone has left a message on a scrap of paper.

Los Angeles Times

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What’s the best way to wash your face? Dermatologists explain the science of clean skin

Skincare experts offer advice about how and when to wash your face including product recommendations available at the drugstore.

Inverse

Bethany Jean Clement: How to make surprisingly excellent vegan corn chowder — with help from Communion's Kristi Brown

SEATTLE — Corn chowder does not sound like a thrill. A ubiquitous vegetable plus a soup intended to make use of any kind of ubiquitous stuff using also-ubiquitous milk and/or cream, plus other ubiquitous vegetables ... should be fine. Not amazing, however. And, then, vegan corn chowder — not to…

Tribune News Service

Ecuador to halt pumping oil within 48 hours amid protests - Bloomberg News

Ecuador will likely suspend oil production completely within 48 hours if road blocks and vandalising of oil wells continue, Bloomberg News reported on Sunday, citing an emailed statement from the Energy Ministry.

Reuters

G7 to stand with Ukraine 'for as long as it takes'

The Group of Seven club of wealthy nations on Monday vowed to stand with Ukraine "for as long as it takes", promising to tighten the squeeze on Russia's finances with new sanctions that include a proposal to cap the price of Russian oil.

Reuters

FTSE 100 Live: US rate rise speculation lifts sentiment, oil price steady

A rally for global markets is continuing amid hopes that Federal Reserve interest rate hikes may not be as aggressive as earlier feared.

Evening Standard

Head of PLC to Discuss with Grundberg Houthi Rejection to Open Taiz Crossings

The UN envoy to Yemen, Hans Grundberg, will meet in Riyadh Monday with the Chairman of the Presidential Leadership Council (PLC) in Yemen Rashad al-Alimi to discuss the Houthi militias' refusal to open the Taiz crossings, according to well-informed sources. The sources revealed that the government team concerned with opening…

Asharq Al-Awsat

Sri Lanka sends 2 ministers to Russia for oil amid crisis

Sri Lanka is sending two ministers to Russia to negotiate for fuel, a necessity that the Indian ocean island nation has almost run out of amid its ongoing economic crisis

The Independent UK

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Asharq Al-Awsat

Oil Extends Gains Ahead of G7 Discussions on Russian Exports

Oil prices extended gains on Monday as investors stood on guard for any moves against Russian oil and gas exports that might come out of a meeting of leaders of the Group of Seven (G7) nations meeting in Germany. The prospect of more supply tightness loomed over the market as…

France 24

Ecuador’s president announces fuel price cut as protests cripple output

Ecuador President Guillermo Lasso announced Sunday the country will reduce rising fuel prices that sparked two weeks of protests, although not by as much as Indigenous groups behind the demonstrations had requested.

Reuters

Ecuador cuts gasoline prices in latest concession to protesters

Ecuadorean President Guillermo Lasso said on Sunday he would cut prices for gasoline and diesel by 10 cents a gallon, the latest concession to try to end nearly two weeks of anti-government protests in which at least six people have died.

Bangkok Post

PM kicks for touch on fuel, food prices

Wise men say putting the right man in the right job will get it done and done well. So when Prime Minister Prayut Chan-o-cha last week assigned the National Security Council (NSC) to take the lead in tackling energy and food problems, many eyebrows were raised, questioning the rationale of…

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Bangkok Post

Hardship by the gross

Amid skyrocketing fuel prices, many people and even some politicians have begun to question the profits being made by private refineries. The issue angering critics and consumers is what is known as the gross refining margin, or GRM, of local oil refineries.

The Guardian - UK

Proposed price cap on Russian oil moves closer at G7 summit

Western leaders hope to tighten vice around Vladimir Putin without causing backlash at home or in global south

Liverpool Echo

Soaring fuel prices in 2000 led to queues at pumps and panic buying

Just over 20 years ago, a blockade of an Ellesmere Port oil refinery saw Britain grind to a halt

Tribune News Service

G-7 weighs cap on the price of Russian oil

Group of Seven nations are discussing a cap on the price of Russian oil that would work by imposing restrictions on insurance and shipping, according to people familiar with the matter.

Reuters

Ukraine attacks Crimean oil-drilling platform for second time in a week - Tass

Ukrainian forces have attacked a drilling platform in the Black Sea owned by a Crimean oil and gas company, Tass news agency cited local officials as saying on Sunday, the second strike in a week.

Reuters

Well run by Nigeria's Eroton spills oil and gas for over a week

A well at a site operated by local Nigerian firm Eroton Exploration and Production Limited has been spilling oil and gas into the Niger Delta for more than a week, the company and an agency responsible for detecting oil spills said.

The Guardian - UK

Concerns grow that India is ‘back door’ into Europe for Russian oil

Volume of Russian crude bought and then exported by India suggests some of it may end up in European petrol stations

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