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The Latest Breaking News from Oil

EU's toughest Russia sanctions yet snag on worries over oil ban

The European Union's executive on Wednesday proposed the toughest package of sanctions yet against Moscow for its war in Ukraine, but several countries worried about the impact of cutting off Russia oil imports stood in the way of agreement.

Reuters

Cannabidiol – CBD oil – tested as a way to combat drug addiction in Victorian trial

Cannabidiol might make you sleepy and help to calm your nerves, but it won't get you high. Researchers in Victoria wonder whether it could help people struggling with drug dependency.

ABC News

Wednesday briefing: Would a windfall tax on BP’s soaring profits work?

In today’s newsletter: Nimo Omer breaks down BP’s enormous profits, and why some are calling for a windfall tax amid a cost of living crisis nationwide

The Guardian - UK

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Russian Forces Press Ukraine Offensive as EU Weighs Oil Sanctions

Russian forces have launched a major assault on the holdout Azovstal steel plant in the devastated port city of Mariupol while pounding sites across eastern Ukraine, as the European Union moves to punish Moscow with oil sanctions. Three months into the war, Moscow has focused its fresh offensive on Ukraine's…

Asharq Al-Awsat

EU to unveil Russian oil sanctions as evacuees recall Azovstal horror

Russia continued attacks on east Ukraine as head of British armed forces criticises ‘shocking intelligence failures’ in Putin’s military campaign

The Guardian - AU

Russia says it will open humanitarian corridors out of Mariupol plant

Russia said its forces would cease fire at the Azovstal steel plant in the Ukrainian port city of Mariupol and open a humanitarian corridor for civilians for three days beginning Thursday. On the diplomatic front, US President Joe Biden said he would discuss slapping further sanctions on Moscow with G7…

France 24

Russia fights for control of Ukraine's Mariupol stronghold

Russian forces battled on Wednesday for control of the last stronghold in Ukraine's besieged city of Mariupol, Ukrainian officials said, and the European Union proposed tough new sanctions against Moscow including a phased oil embargo.

Reuters

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BP boss Bernard Looney takes home £4.5m as soaring gas and oil prices turn company into 'cash machine'

The chief executive, who grew up on a dairy farm in County Kerry in Ireland and was the first in his family to go to University, insists he understands how many households were “really, really struggling”.

Daily Record

Brittney Griner told me her fear of being alone and forgotten. Don’t let it come true

Given the US state department’s reclassification of the basketball star as ‘wrongfully detained’ – the moment to speak out is now

The Guardian - US

Russia-Ukraine war: What happened today (May 3)

A roundup of key developments and the latest in-depth coverage of Russia's invasion of Ukraine.

WEKU

BP raking in £639 a SECOND and Boris Johnson mutters more rubbish about buses

Oil giant BP is celebrating its £5billion profit - its biggest quarterly boost for more than a decade. Meanwhile, Brits are struggling with the cost of living crisis but Boris Johnson is not helping

Daily Mirror

Thai exports set to enjoy healthy growth in Q2

Despite a spate of global uncertainties, Thai exports are expected to perform well in the second quarter, with year-on-year growth of 3.5-5%, according to a group of Thai shippers.

Bangkok Post

WNBA star Brittney Griner ‘wrongfully detained’ in Russia, according to new U.S. designation

The Biden administration now believes WNBA star Brittney Griner is being “wrongfully detained” in Russia after allegedly being caught with hashish oil at the airport.

Tribune News Service

Look to Consumer Staples Stocks on Mounting Recession Fears

The Fed’s aggressive interest rate hikes and the high energy prices are likely to fuel recessionary conditions. The unexpected decline in GDP in the first quarter indicates a possible slowdown with prices rising continuously. Amid fears of high inflation and a consequent recession, investors can look to bet on shares…

StockNews.com

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Benzinga

Earnings Outlook For Ranger Oil

Ranger Oil (NASDAQ:ROCC) is set to give its latest quarterly earnings report on Wednesday, 2022-05-04. Here's what investors need to know before the announcement. Analysts estimate that Ranger Oil will report an earnings per share (EPS) of $2.29.

The Guardian - UK

Windfall tax wouldn’t stop BP’s £18bn parade of projects

Neither would it make the energy crisis go away, but after a while it becomes hard to resist

WEKU

The U.S. now says Russia is wrongfully detaining WNBA star Brittney Griner

Griner was arrested after authorities reportedly found vape cartridges with hashish oil in her luggage. The shift in language indicates the U.S. will work more aggressively to secure her release.

Daily Mirror

All you need to know about windfall tax as PM reject calls to impose levy on oil giants

Keir Starmer has been urging the government to introduce a one-off levy on oil and gas giants as rising energy bills boost profits. However, Boris Johnson has rejected Labour's calls

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The National (Scotland)

Protesters arrested at Scottish oil terminal climate protest, Police Scotland say

A NUMBER of climate protesters who blockaded an oil terminal have been arrested, police have said.

Benzinga

7 Best Energy Stocks To Buy With Over 6% Dividend Yields: Ecopetrol, Energy Transfer LP And More

One of the only sectors of the market that is skyrocketing amid broad market weakness in 2022 is the energy sector.

The Independent UK

Protesters arrested at oil terminal climate protest, Police Scotland say

Chief Superintendent Lynn Ratcliff said on Tuesday evening a ‘number of people who decided not to cooperate have subsequently been arrested’.

Los Angeles Times

Why are gas prices still so high? And what's up with those rebate checks?

For the last two months, Eric Simpson has been facing a dilemma: go surfing, or save gas for his commute?

The Guardian - UK

European Council president ‘confident’ of imminent sanctions on Russian oil

Pivot by Germany bolsters support for phased-in import ban as Charles Michel says goal is to ‘break Russian war machine’

Asharq Al-Awsat

Russia Unleashes Rockets at Steel Plant, Some Evacuees Reach Safety

Russia unleashed rockets on Tuesday on an encircled steel works in Mariupol, Ukraine's last redoubt in the port city, after a ceasefire broke down with some civilians still trapped beneath the sprawling site despite a UN-brokered evacuation. However, scores of exhausted-looking evacuees who managed to leave under UN and Red…

Asharq Al-Awsat

New EU Sanctions to Hit Russian Oil, Target More Banks

The European Union will slap new sanctions on Russia for waging war against Ukraine, targeting Moscow's oil industry, more Russian banks and those responsible for disinformation, the EU's top diplomat said on Tuesday. "We are working on the sixth package of sanctions which aims to de-SWIFT more banks, list disinformation…

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