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The Latest Breaking News from Oil

Oil Rises on Prospects of Less Aggressive US Rate Hike

Oil prices rose on Friday amid prospects of a less aggressive US rate hike, although worries about a recovery in demand capped gains. Brent crude futures for September delivery rose 94 cents, or 1.0%, to $100.04 a barrel by 0630 GMT, while WTI crude rose 63 cents, or 0.7%, to…

Asharq Al-Awsat

Hezbollah Shifts Strategy from 'Defense' to Threatening Israel with Escalation

The maritime border dispute between Lebanon and Israel shifted Hezbollah's strategy from "commitment to defense" to threatening Tel Aviv with an attack. Hezbollah Sec-Gen Hassan Nasrallah warned of the outbreak of war if Lebanon was banned from extracting oil and gas from its water. The official statements of the party's…

Asharq Al-Awsat

G20 Finance Chiefs Meet as Indonesia Warns of Energy, Food Catastrophe

Group of 20 finance ministers and central bank chiefs from top economies met in Indonesia Friday for talks on the fallout from Russia's invasion of Ukraine, with the host warning them failure to tackle energy and food crises would be catastrophic. The two-day meeting on the resort island of Bali…

Asharq Al-Awsat

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Biden confronts Saudi crown prince over Khashoggi murder, expects action on energy

U.S. President Joe Biden said on Friday he told Saudi Arabia's Crown Prince Mohammed bin Salman he held him responsible for the murder of Washington Post journalist Jamal Khashoggi, shortly after exchanging a fist bump with the kingdom's de facto ruler.

Reuters

Indonesia’s palm oil policy at a crossroads: why government interventions are ineffective

Indonesia has made several policy interventions to stabilise the price of cooking oil and address the causes of a gap in supply and demand of crude palm oil (CPO).

The Conversation

Groups back cooking palm oil price cut

Prices of palm oil for cooking are likely to dip further next week after manufacturers, department stores and modern trade outlets on Thursday agreed to cut the price of bottled palm oil by 5-6 baht per litre to 62 baht per bottle, in line with lower production costs and improving…

Bangkok Post

Will Joe Biden’s trip to Saudi Arabia affect US gas prices?

Issue weighs on president as midterms approach

The Independent UK

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PTT to commercialise 'rejuvenating DNA'

National oil and gas conglomerate PTT Plc has set an ambitious goal to commercialise a newly invented "rejuvenating DNA" with the potential to treat ageing-related illnesses as part of a cooperation with Chulalongkorn University.

Bangkok Post

Debate must dig deep

The political temperature will rise substantially next week as the awaited censure debate is due to start on Tuesday, even though Prime Minister Prayut Chan-o-cha's administration -- thanks to it holding a majority of seats -- is likely to survive the no-confidence motion, just as it did in the past.…

Bangkok Post

Breakthrough in gas separation and storage could fast-track shift to green hydrogen and significantly cut global energy use

In 2016, experts writing in Nature listed seven breakthroughs in how we process chemicals that could change the world for the better. We believe we’ve just ticked one of those off the list.

The Conversation

Inflation, high energy prices mean the Texas Legislature will have unprecedented funds to allocate next year

The state will have an extra $27 billion in its coffers in 2023 — money that could help pay for property tax cuts and other legislative priorities.

The Texas Tribune

Khashoggi’s fiancée says Biden visit to Saudi Arabia is "heartbreaking"

"Biden will lose his moral authority by putting oil and expediency over principles and values."

Axios

Worried about high energy bills, some Canadians risk discomfort, illness and even death

Almost one in 10 Canadian households spend more than 10 per cent of their income to heat and cool their homes, keep the lights on and to store or cook food. For these households, the high cost of energy, which includes electricity, natural gas, heating oil and propane, means they…

The Conversation

Exports up 23.52% to $40.13 billion in June; trade deficit at record $26.18 billion

NEW DELHI: Exports in June rose by 23.52 per cent to $40.13 billion while the trade deficit ballooned to a record level of $26.18 billion mainly due to jump in gold and crude oil imports, the government data said on Thursday.

The Times of India

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The Independent UK

MAGA pastor says climate activists are being controlled by ‘demons’

‘The environmentalists are crazy. They are more fanatical than al Qaeda’

The Times of India

Momentum in economy holding up better than expected: Finance ministry report

NEW DELHI: India’s macro risks have receded in the last six weeks due to the steps taken by the Centre and the Reserve Bank of India (RBI) and the decline in oil prices due to global recession fears, the finance ministry said in a report on Thursday, asserting that the…

StockNews.com

How Falling Oil Prices Will Impact These 3 Stocks

Recessionary fears have led to a drop in oil prices recently. However, oil demand is expected to remain robust this year, and analysts expect oil prices could top $150 per barrel. So, let’s discuss the near-term prospects of oil and gas stocks Chevron (CVX), Marathon Oil (MRO), and Cheniere Energy…

The Hindu

Two women caught smuggling hash oil into prison

Bengaluru

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StockNews.com

These 3 Stocks Are Most Likely to Survive an Economic Downturn

The stock market slumped on Wednesday after the decades-high inflation report came in. Traders now expect the Fed to deliver a full-point rate hike, deepening recessionary concerns. Amid this, quality stocks H&R Block (HRB), Occidental Petroleum (OXY), and Continental Resources (CLR) have outperformed the broader market this year and might…

Benzinga

Here's Why Enterprise (EPD) Could Be An Attractive Bet

Enterprise Products Partners LP (NYSE: EPD) has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 60 days. So far this year, the stock, carrying a Zacks Rank #2 (Buy), has gained 12.2%, outpacing the 9.2% rise of the composite stocks belonging to the industry.

Al Jazeera

Libyan oil firm chief denounces Tripoli’s move to replace him

The National Oil Corporation claims Tripoli government forces stormed its headquarters to install new director.

StockNews.com

Target Hospitality is This Week’s Featured Stock

Target Hospitality (TH) is a specialty rental and hospitality services company that has been experiencing big gains in recent weeks. Read more to find out what's driving the stock higher, and why the gains could continue.

The Conversation

Carbon monoxide: what is it and why is it deadly?

Many of us are familiar with the typical results of burning fuels such as coal, natural gas and oil. The reaction produces heat which we harness to warm our homes, heat water and cook food, power vehicles and generate electricity.

StockNews.com

3 Stocks the World's Greatest Investors Are Buying up Right Now

Skyrocketing inflation, the Fed’s aggressive interest rate hikes, and growing recession fears have kept the stock market under tremendous pressure lately. Amid the market’s downtrend, the world’s renowned investors are scooping up quality stocks Occidental Petroleum (OXY), Amazon.com (AMZN), and Incyte (INCY). Continue reading….

The Hindu

IIT Madras develops life cycle management system for ONGC

The structural integrity management system developed by the Ocean Engineering department of the IIT Madras will help ONGC in extending the life of its equipment in offshore oil platforms

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