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The Latest Breaking News from Oil

Canada’s oil sands: why some of the world’s dirtiest fuel is now in hot demand

Can America’s biggest oil supplier grant energy security to the US without derailing its climate commitments?

Financial Times

Cost of filling up family car hits £100 as petrol prices surge to new record high

The cost of petrol has topped £100 a tank for the first time, with diesel prices even higher, in what the RAC motoring organisation are calling a truly dark day for drivers

Daily Mirror

UAE Central Bank Expects Real GDP Growth to Reach 4.2% in 2023

The United Arab Emirates' central bank said on Wednesday it expects real GDP growth to reach 4.2 percent next year, up from its earlier forecast of 3.3 percent. The central bank estimated the non-oil GDP growth to reach 3.9 percent in 2023 compared with previous estimates of 3.3 percent, while…

Asharq Al-Awsat

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GCC Bank Profits Surge to $11 Billion

The first quarter of 2022 proved to be the best quarters for banks in the Gulf Cooperation Council as they raked in $10.9 billion in aggregate profits, a Kamco Invest report showed. This is one of the highest quarterly levels on record. Five out of six Gulf countries saw their…

Asharq Al-Awsat

Cancer survivor Chhavi Mittal takes boiled Lakshmi Taru leaves every morning; here’s what the leaves are and its benefits; know the side effects too

Ever since she has been diagnosed with breast cancer, Chhavi Mittal has not kept it to herself. She has been spreading words about it. In her personal vlog and through her social media accounts she talks about her life post cancer diagnosis and surgery.

The Times of India

FTSE 100 Live: Brent crude price at post-invasion peak, European rates in focus

Inflation pressures show no signs of easing after oil prices returned to the peak seen in March after Russia’s invasion of Ukraine.

Evening Standard

Indonesia launches scheme to speed up palm oil exports

JAKARTA: Indonesia has launched an export acceleration scheme aimed at shipping at least 1 million tonnes of crude palm oil and derivatives following a recent export ban, according to a Trade Ministry regulation made public on Thursday.

Bangkok Post

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Asian shares fall as oil lingers above $120, yen sinks

Shares are mostly lower in Asia as investors watch for fresh signs of inflation

The Independent UK

Seven stowaways and a hijacked oil tanker: the strange case of the Nave Andromeda

The long read: In October 2020 an emergency call was received from a ship in British waters. After a full-scale commando raid, seven Nigerians were taken off in handcuffs – but no one was ever charged. What really happened on board?

The Guardian - UK

Uttar Pradesh: Indian Oil to launch quiz for teens

LUCKNOW: Indian Oil, in association with the state government, is set to conduct a heritage quiz with prize money of Rs 10 lakh for the winner.

The Times of India

PTT planning to produce medical consumables

National oil and gas conglomerate PTT Plc is to move into the production of medical consumables amid growing demand, especially in ageing societies, under a new partnership with petrochemical and plastic manufacturers.

Bangkok Post

CBI books Shree Basant Oils and others for ₹124-crore bank fraud

The Mathura-based company is into the manufacturing, packaging and trade of refined oil, rice bran, soya oil, palm oil, mustard oil and oil cake

The Hindu

Price spikes continue, with oil up and OECD forecasting highest inflation since 1988

Markets globally are in the red as the world faces continuing inflation and the likelihood it will be tackled with rising interest rates. The ASX finishes down again.

ABC News

Greek court overturns decision on U.S. seizure of Iranian oil cargo, says souces

A Greek court on Wednesday overturned an earlier court ruling that allowed the confiscation by the United States of part of a cargo of Iranian oil on an Iranian-flagged tanker off the Greek coast, three sources familiar with the matter said.

Reuters

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Daily Mirror

Everything you need to know as petrol prices keep going up amid cost of living crisis

The main reason for petrol prices going up is a jump in oil prices, with demand rising sharply as economies around the world emerged from Covid lockdowns. Prices also spiked after Russia invaded Ukraine

The Hindu

Supply fuel as per dealers’ indents: Minister to oil firms

Kamalakar warns licence will be revoked if bunks found fuelling artificial scarcity

Tribune News Service

An upside to high energy prices? Texas racks up record tax revenue from the oil patch

In each of the past two months, Texas has collected over $1 billion in taxes on oil and gas production — a record pace.

Benzinga

Why Houston American Energy Shares Are Rising Today

Shares of small-cap penny stock Houston American Energy Corporation (NASDAQ: HUSA) are trading higher by 13.46% at $8.01. The stock has seen retail investor interest on social media as small-cap energy stocks gain amid volatility in oil prices.

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Benzinga

Buying When There's Blood In The Streets: The Pros And Cons. Three Examples From The Ukraine War.

Buying When There's Blood In The Streets

Benzinga

Mid-Day Market Update: Crude Oil Rises 1%; Rigel Pharmaceuticals Shares Slide

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite adding around 50 points on Wednesday.

Birmingham Post

AIS Survivex launches new training centre for specialist oil and gas well control skills

The North Shields-based offshore training provider has invested in equipment to give trainees a realistic drilling experience

Belfast Live

Latest gas and oil price increases in Northern Ireland and how they'll hit you in the pocket

Price hikes have been blamed on increases in global wholesale costs

StockNews.com

4 Buy-Rated Mid-Cap Stocks to Buy in June

Concerns about the potential for the economy to slip into a recession because of the Fed’s aggressive monetary policy tightening have fostered significant market volatility of late. While many analysts don’t expect inflation to increase further, investor uncertainty might persist through the end of this year. Therefore, we think the…

Daily Mirror

Why are petrol prices are so high, as filling up could cost Brits £100 a tank

British motorists can expect even bigger holes in their pockets as petrol prices hit all-time highs. The cost of living crisis is getting worse, and the latest news on oil won't help

Daily Record

Why fuel is so expensive right now as cost jumps yet again

The crisis is showing no signs of slowing down

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