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The Latest Breaking News from Oil

Factbox-Saudi-China energy, trade and investment ties

Saudi Arabia and China signed a series of agreements during President Xi Jinping's visit to the kingdom, demonstrating deepening ties between the two countries that Riyadh's traditional ally the United States is warily watching.

Reuters

Oil tankers queue up off Turkey as price cap on Russian crude begins

Turkish authorities demand that insurers prove that ships heading through straits are fully covered

The Guardian - UK

Just Stop Oil disrupt traffic at Bricklayers Arms roundabout in south London

Fifteen climate activists held banners and chanted as they walked on the road

Evening Standard

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Just Stop Oil protesters block south London road with slow march

Demonstrators obstructed the road at the Bricklayers Arms roundabout, with traffic delayed along the Old Kent Road.

The Independent UK

Saudi Aramco Drops January's Arab Light Prices for Asia

Aramco announced that Saudi Arabia has dropped the January official selling price (OSP) for its flagship Arab Light crude for Asian buyers to a 10-month low. The price is $2.20 a barrel below official selling prices for December, so the demand outlook remains fragile. The largest oil exporter set the…

Asharq Al-Awsat

Drone attack hits oil storage tank at airfield in Russia’s Kursk region

No casualties reported as facility set on fire, one day after Russia blames Ukraine for two other drone strikes

The Guardian - UK

Russian Airfield Hit, Day after Drone Strikes on Bases

A fire that broke out at an airport in Russia’s southern Kursk region that borders Ukraine was the result of a drone attack, the regional governor said Tuesday, a day after Moscow blamed Kyiv for drone strikes on two air bases deep inside Russia and launched a new wave of…

Asharq Al-Awsat

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Commentary: Inflation is bad, but it could worsen if the US dollar weakens

The U.S. dollar is near its highest level in more than a decade. A strong U.S. dollar has many benefits to consumers. When traveling abroad, goods and services cost less in U.S. dollars, making foreign destinations attractive vacation options for many. Domestically, imported items also cost less in U.S. dollars,…

Chicago Tribune

Drone strikes oil tank at airfield in Russia's Kursk region

A drone has struck an airfield in the Russian region of Kursk bordering Ukraine, setting fire to an oil storage tank, the regional governor said on Tuesday.

Reuters

At Least 7 Killed in Blast in North Afghanistan

At least seven people were killed on Tuesday when a blast hit a vehicle carrying oil workers in northern Afghanistan, police said. "Today at around 7 a.m. a blast took place in ... Balkh on a bus which belonged to Hairatan oil employees," said Mohammad Asif Wazeri, police spokesperson for…

Asharq Al-Awsat

Just Stop Oil’s message to Suella Braverman: threaten us all you like – we’re not listening

Ministers have shattered the legal system and are failing to tackle the climate crisis. Now they are making protesters their scapegoats, says activist Indigo Rumbelow

The Guardian - UK

Oil Prices Climb after Russian Crude Sanctions Kick in

Oil rebounded on Tuesday after plunging by more than 3% in the previous session, as the implementation of sanctions on Russian seaborne crude oil eased concerns about oversupply while the relaxing of China's COVID curbs bolstered the demand outlook. Brent crude futures had gained 85 cents to $83.53 a barrel…

Asharq Al-Awsat

Asian shares lower as strong data hit hopes for dovish Fed

Stocks are mostly lower in Asia after Wall Street pulled back as surprisingly strong economic reports highlighted the difficulty of the Federal Reserve’s fight against inflation

The Independent UK

Russia claims Ukraine shelling Zaporizhzhia nuclear plant – as it happened

Moscow accuses Ukraine of ‘nuclear terrorism’; Kremlin spokesperson says there is no prospect for negotiations with Kyiv at the moment

The Guardian - AU

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Reuters

At least five killed in blast in northern Afghanistan - police

At least five people were killed when a blast hit a vehicle carrying employees of an oil company in northern Afghanistan, police said on Tuesday.

The Times of India

How Vitamin E capsules benefit your skin

Vitamin E capsules, also known as Evion capsules are a storehouse of health benefits. The oil can be used on different parts of your body, starting from head to toe. Starting from head to face to nails, Vitamin E oil helps in benefitting your body in several ways.

The Guardian - AU

Russia-Ukraine war at a glance: what we know on day 286 of the invasion

Four people die in Russian strikes; majority of missiles shot down

Los Angeles Times

Newsom, accusing oil industry of price gouging, unveils plan to cap refinery profits

SACRAMENTO, Calif. — Gov. Gavin Newsom on Monday unveiled an outline of his plan to place a cap on oil refinery profits in California, a proposal he's asking lawmakers to approve in hopes of reducing future spikes on gasoline prices.

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Miami Herald

Former Florida Congressman David Rivera arrested on charges related to Venezuela consulting work

MIAMI — Former Miami Congressman David Rivera was arrested Monday on federal criminal charges related to his multimillion-dollar consulting contract with Venezuela’s state-owned oil company, federal prosecutors confirmed.

Al Jazeera

Russian oil price cap: Five things you need to know

Al Jazeera answers five key questions to better understand the effect of the EU and G7’s move.

Reuters

White House says it is not surprised on Russian reaction to oil price cap

The White House said on Monday that it was not surprised by Russia's reaction to the West's price cap on oil from the country.

Daily Mirror

Bride forced to call off wedding after her face 'melts' in fire caused by French fries

Brenley Davis had less than a week to wait before her big day with fiancé Justin Davis when an oil fire at their home in Jacksonville, North Carolina, left her in agony and covered in burns

Al Jazeera

Infographic: How much oil does Russia produce?

Russia is one of the largest producers of crude oil, and it provides more than a third of Europe’s oil imports.

Reuters

Oil tankers queue up off Turkey as price cap on Russian crude kicks in - FT

Oil tankers formed a traffic jam off the coast of Turkey on day one of the West's price cap on Russian crude, with Ankara insisting on new proof of insurance for all vessels, the Financial Times reported on Monday.

Tribune News Service

Oil companies spent big to elect new California legislators. What will their millions buy?

SACRAMENTO, Calif. — A handful of moderate Democrats and Republicans, beneficiaries of millions in oil contributions, are headed to the California Senate and Assembly this week.

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