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The Latest Breaking News from Oil

‘Dark activities’ of Russian-linked oil tankers have doubled, analysis shows

Maritime intelligence firm points to rise in tankers switching off trackers for sanctions-busting transfers

The Guardian - UK

COP27 flinched on phasing out oil

Widespread anxieties about energy made many governments cautious about phasing out all fossil fuels

Salon

Boots shoppers snap up £10 skincare item loved by Molly Mae Hague

The body oil has been reduced as part of the health and beauty retailers £10 Tuesday deal

Manchester Evening News

From analysis to the latest developments in health,
read the most diverse news in one place.

A new playbook for buying oil

Some 70 years later, the West has a response to OPEC

Axios

Ukraine hits out at India for buying cheap Russian oil ‘while we are suffering and dying’

‘If you benefit because of our suffering, it would be good to see more of your help addressed to us’

The Independent UK

Why sanctions against Russia aren't working — yet

When sanctions were enacted against Russia in February of this year, many forecasts were of an imminent collapse in the Russian economy. A new report looks at why that hasn't happened.

WEKU

Just Stop Oil stage further marches slowing London traffic

Demonstrators obstructed the road at the Bricklayers Arms roundabout at around 8am on Tuesday.

The Independent UK

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Petrol prices ease before Christmas as Russian sanctions threaten diesel disruption

Australian motorists are enjoying bowser relief in the lead-up to Christmas, but oil markets are threatening to push up petrol prices.

The New Daily

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

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

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Asharq Al-Awsat

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…

Chicago Tribune

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,…

Reuters

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.

Asharq Al-Awsat

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…

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The Guardian - UK

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

Asharq Al-Awsat

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…

The Independent UK

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 Guardian - AU

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

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 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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