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The Latest Breaking News from Oil

China's Xi on 'epoch-making' visit to Saudi as Riyadh chafes at U.S. censure

Chinese President Xi Jinping began a visit to Saudi Arabia on Wednesday that Beijing said marked its biggest diplomatic initiative in the Arab world, as Riyadh expands global alliances beyond a long-standing partnership with the West.

Reuters

World Cup Fans Explore Qatar’s Artificial Reefs

Thirty feet (9 meters) deep into the waters of the Gulf, angel fish swim in and out of rusted trucks and SUVs. Plastic bags and water bottles, blown in from the nearby shoreline, float across the ocean floor. World Cup fans in Qatar hoping to see some of the Gulf’s…

Asharq Al-Awsat

Can this diet save Australian kids from obesity? The science says so

Babies put on a lower-protein and cereals diet, and fed a variety of fruit and vegetables, developed a taste for a healthier diet.

The New Daily

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Best of 2022: The biggest art stories mattered more than soup thrown on a Van Gogh

LOS ANGELES — The COVID-19 pandemic isn't over, but museum and gallery exhibitions are getting back on track. Rather than write the usual list of 10 best shows, I'm sharing these 10 art stories that caught my eye this year.

Los Angeles Times

Commentary: The G-7′s price cap gamble on Russian oil is an untested idea

The United States and its allies in Europe have spent the last 10 months turning the screws on the Russian economy in retaliation for Vladimir Putin’s war on Ukraine. The Western coalition blocked Russia from accessing around half of its more than $600 billion in foreign reserves, disconnected multiple Russian…

Chicago Tribune

Asian Equities, Oil Prices Dragged by Recession Fears

Asian investors extended a sell-off across global markets Wednesday while oil held losses on growing fears Federal Reserve monetary tightening will tip the US economy into recession. The drop followed another day deep in the red for New York's three main indexes after the heads of Wall Street's leading banks…

Asharq Al-Awsat

FTSE 100 Live: House prices in biggest fall since 2008, oil near $80

The average house price slid 2.3% in November, the largest monthly drop recorded by lender Halifax since October 2008.

Evening Standard

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Saudi Arabia readies full state pageantry for Xi Jinping visit

Chinese president’s three-day trip to Riyadh will lead to a ‘strategic agreement’ between the authoritarian powers

The Guardian - US

Xi is expected in Riyadh as the Middle East looks beyond America

Two months after snubbing U.S. President Joe Biden’s pleas for oil, Saudi Arabia is rolling out the red carpet for his Chinese counterpart, Xi Jinping.

Tribune News Service

Putin says Russia could be fighting in Ukraine for a long time

Russian President Vladimir Putin said on Wednesday his army could be fighting in Ukraine for a long time, but he saw no sense in expanding a call-up of 300,000 reservists from September and October after serious Russian battlefield setbacks.

Reuters

A former Florida congressman is arrested on charges of lobbying for Venezuela

A newly unsealed grand jury indictment alleges that former Rep. David Rivera, a well-connected Florida Republican, illegally acted on Venezuela's behalf.

WEKU

Tanker delays across Turkish straits not due to Russia oil price cap - official

Disruptions in tanker traffic from Russia's Black Sea ports to the Mediterranean are a result of a new Turkish insurance rule, not the price cap on Russian oil agreed by a coalition of G7 countries and Australia, an official with the group said on Tuesday.

Reuters

Hungarian government scraps price cap on fuels as shortage worsens

Hungary's government scrapped a price cap on fuels on Tuesday after a lack of imports and panic buying led to fuel shortages across the country in the past days that oil and gas group MOL said created a "critical situation."

Reuters

Analysis-G7 Russian oil price cap evolves from revenue squeeze to market anchor

When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia's war machine, while avoiding a devastating oil price spike.

Reuters

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The Independent UK

'Hiccup!' Spirits low after vodka brand auction runs dry

Shareholders of dismantled Russian oil company Yukos were low in spirits after the top bid in an auction of several iconic vodka brands came up short

Newcastle Herald

More than Ukraine war to high coal prices as debate over price caps continue

Why price controls might not work when coal supply is so short

The Guardian - UK

Climate protesters told to pay National Gallery £1,000 for damaging painting

Just Stop Oil’s Hannah Hunt and Eden Lazarus found guilty after glueing themselves to Constable’s The Hay Wain

Asharq Al-Awsat

Syria to Close Govt Agencies for 2 Days amid Fuel Crisis

Syria's government will close state agencies for two days in December due to severe fuel shortages caused by a disruption in the arrival of supplies and Western sanctions, state media reported Tuesday. The decision to close the institutions on Dec. 11 and Dec. 18 comes at a time when many…

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Al Jazeera

China’s Xi arrives in Saudi Arabia to ‘bolster ties’

Initial agreements worth $29bn will be signed at a Saudi Arabian-Chinese summit this week, official news agency says.

Evening Standard

Just Stop Oil climate protesters guilty of criminal damage to John Constable masterpiece at National Gallery

The pair taped posters to The Hay Wain and glued themselves to its frame

The National (Scotland)

Hypothermia and getting set on fire: Scots stars on making The Rig

YOU may expect a modern TV set to be a much safer destination than an oil rig but it’s not without its dangers, the stars of Scotland’s next…

The Independent UK

Syria to close govt agencies for 2 days amid fuel crisis

The Syrian government has decided to close state agencies for two days in December due to severe fuel shortages caused by the disruption in the arrival of supplies and Western sanctions

Daily Mirror

Mum explains how to feed family of 6 at Christmas for under £25 - including fizz

Cost of living expert Lynn Beattie, who runs the Mrs Mummypenny blog, shows you how to make a tasty bargain Christmas dinner for under £25. You can follow her on Instagram @mrsmummypennyuk

Evening Standard

Drone strikes military base in Russia as Moscow accuses Ukraine of carrying out attacks on its soil

Latest drone strike near border of Ukraine came day after Moscow accused Kyiv of two attacks on air bases deep inside Russia

The Guardian - UK

UK petrol and diesel retailers accused of ‘rocket and feather’ tactics

CMA to deepen investigation into fuel industry after record pump prices this year

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