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The Latest Breaking News from Ben Cahill

Energy markets are having a Wile E. Coyote moment as oil supplies go off a cliff, expert says

“Unless Strait of Hormuz transit resumes, the stress in refined products and the shortages we’re seeing across Asia will spread, and quickly.”

Fortune

Why oil prices aren't even higher after Iran strikes

Oil hasn't yet approached the $100-per-barrel — or higher — level that numerous market-watchers say is possible.

Axios

COP28 Puts Spotlight On State Oil Giants

Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but a less visible lineup of powerful state companies dominates the industry.

International Business Times

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Good-value rosés for outdoor drinking

We are buying more French-style rosé than ever, and showing a taste for more quality wines, too. And, if you know where to look, there are excellent bargains to be had

The Guardian - UK

Love wine but can’t afford it? Here’s how to drink luxury for less

These affordable styles offer a powerhouse of flavour, without the high price tag, says Sam Wylie-Harris

The Independent UK

Europe Is Learning to Live Without Russian Energy

Russian President Vladimir Putin played the energy card on Europe to undercut Ukraine. Europe called his bluff.

Foreign Policy

Which European nations are handling the energy crisis best?

France, Spain, Germany, Italy and Greece are doing some things right, but face challenging times ahead, say experts.

Al Jazeera

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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

What to know about the West's new efforts to slash Russia's oil revenue

Plans take effect next week that would ban most Russian oil imports from Europe and put a price cap on the oil going elsewhere. But Russia could still make money off oil to fund its war in Ukraine.

WEKU

GOP pans oil reserve sale despite a long and bipartisan history

WASHINGTON — After the Biden administration announced the latest sale of crude oil from the Strategic Petroleum Reserve to put a damper on pump prices earlier this week, Republican lawmakers called the move a stunt to mollify gasoline price-sensitive voters before the election in November.

Tribune News Service

GOP pans oil reserve sale despite a long and bipartisan history - Roll Call

Presidents from both parties have ordered sales from the Strategic Petroleum Reserve to soften spikes in gas prices.

Roll Call

OPEC+ oil output cut shows widening rift between Biden and Saudi royals

The OPEC+ organization's decision this week to cut oil production despite stiff U.S. opposition has further strained already tense relations between President Joe Biden's White House and Saudi Arabia's royal family, once one of Washington's staunchest Middle East allies, according to interviews with about a dozen government officials and experts…

Reuters

Allies aim for risky Russian oil price cap as winter nears

U.S. officials celebrated at the start of September when top allies agreed to back an audacious, never-before-tried plan to clamp down on Vladimir Putin’s access to cash

The Independent UK

Can Europe keep the heating on this winter amid Russian gas crunch?

While Europe scorches in the heatwave, some of its leaders are securing new gas suppliers to try to ensure the heating stays on this winter as the war in Ukraine forces the continent to confront its dependence on Russian gas. But analysts warn that new gas sources will not solve…

France 24

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WEKU

EU proposes a ban on Russian oil imports

NPR's Leila Fadel speaks with Ben Cahill at the Center for Strategic and International Studies about a European Union proposal to phase out imports of Russian oil and refined products.

People

Cathy McMorris Rodgers

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