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The Latest Breaking News from Oil

Oil tax relief spend ‘could have cut 1.8m tonnes of Co2 emissions’ by insulating 2m homes

The money could have been used to insulate two million British homes by 2025, according to the think tank

The Independent UK

Ireland facing ‘new era’ of higher energy costs, Martin warns

European Union leaders have agreed to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow.

The Independent UK

EU bows to Hungarian concerns and agrees compromise deal on Russian oil ban

Viktor Orban says a full embargo would have been an ‘atomic bomb’ for Hungary

The Independent UK

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What does EU’s partial oil ban mean for Russia and rest of Europe?

Ban on seaborne oil aims to cut off funds for Kremlin war machine, but some warn it could help Moscow in short term

The Guardian - UK

Taoiseach hints Irish households likely to face higher energy costs after EU decision on Russian fuel ban

Speaking in Brussels the Taoiseach said the sanctions account for a "significant volume of Russian oil".

Irish Mirror

Petrol prices hit new record high of 173p a litre as EU bans Russian oil imports

£95.15 to fill up an average family car after latest rise in fuel costs, says RAC

The Independent UK

In major blow, EU bans imports of most Russian oil

In the most significant effort yet to punish Russia for its war in Ukraine, the European Union agreed to ban the overwhelming majority of Russian oil imports

The Independent UK

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Oil soars again on EU Russia deal, petrol prices to keep rising

OIL prices jumped again after EU leaders agreed a deal to block two-thirds of Russian oil imports to starve Vladimir Putin’s war machine of revenues.

Evening Standard

Ukraine news - live: Russia destroying Sievierodonetsk ‘block by block’, says mayor

Up to 15,000 civilians are thought to be trapped in eastern city

The Independent UK

EU leaders fail to agree total ban on Russian oil imports in late-night talks

Hungary thwarted plans for a complete embargo on oil from Russia flowing to the European Union, with leaders instead agreeing to a comprise to cut off 90% of flows

Daily Mirror

Best natural shampoos that really clean the scalp and hair

Say hello to nature and goodbye to icky ingredients with a greener cleanse

Evening Standard

EU agrees Russia oil embargo, gives Hungary exemptions; Zelenskiy vows more sanctions

European Union leaders have agreed an embargo on Russian crude oil imports that will take full effect by end-2022, but Hungary and two other landlocked Central European states secured exemptions for the pipeline imports they rely on.

Reuters

Russia's Lavrov to meet with GCC ministers in Riyadh on Wednesday -officials

Russian Foreign Minister Sergei Lavrov will visit Saudi Arabia on Wednesday where he will meet with foreign ministers of the Gulf Cooperation Council countries (GCC), two Gulf officials said on Tuesday.

Reuters

UK credit card borrowing soars by most since 2005 as mortgage approvals slide – as it happened

Number of UK mortgages approved hit two-year low in April, as consumers spend more on credit as inflation rises

The Guardian - UK

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Radio France Internationale

Europe announces compromise deal on banning Russian oil imports

European Union leaders have reached a compromise deal to ban more than two-thirds of Russian oil imports, punishment for its invasion of Ukraine three months ago. Meanwhile, Moscow's forces push ahead with their offensive in the eastern Donbas region.

Evening Standard

FTSE 100 Live: Brent crude price up again, Nelson Peltz joins Unilever board

Brent crude posted another sharp price rise today after EU leaders moved to ban 90% of Russian oil imports by the end of the year.

Evening Standard

Europe steps up pressure on Putin with deal to ban Russian oil imports

The EU said it would ban 90 per cent of oil imports from Russia by the end of this year

The Guardian - UK

Sunak’s UK oil subsidy could have insulated 2m homes, says thinktank

The billions now going to fossil fuel exploitation could have funded efficiency measures that cut energy bills for good

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Asharq Al-Awsat

EU Leaders Ban Most Russian Oil, as Moscow Advances in Donbas

European Union leaders have agreed to ban more than two-thirds of Russian oil imports, tightening economic screws on the country even as Moscow's forces press their offensive in Ukraine's eastern Donbas region. The compromise deal reached late Monday, meant to punish Russia for its invasion three months ago, cuts "a…

Reuters

Global refiners falter in efforts to keep up with demand

Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the United States and Brazil to smaller countries like war-ravaged Ukraine and Sri Lanka.

Axios

EU to ban most Russian oil imports to put "maximum pressure" on Putin to end war on Ukraine

The agreement immediately covers more than two-thirds of oil imports from Russia.

Reuters

Russia takes most of Sievierodonetsk city in eastern Ukraine

Ukraine said on Tuesday that Russia had taken control of most of the eastern industrial city of Sievierodonetsk, a bombed-out wasteland whose capture Moscow has made the principal objective of its invasion.

The Guardian - UK

Attack on chemical plant in Sievierodonetsk criticised by Zelensky – as it happened

Ukraine president calls bombing of major chemical plant ‘madness’; Gazprom halts gas flows to companies in three western European countries

Wales Online

EU leaders agree partial ban on Russian oil

Sanctions finally get the go-ahead after Hungary's demand for guarantees over supply are taken into consideration

The Independent UK

Ukraine news – live: EU bans Russian oil imports by sea ‘to stop Putin war machine’

Top Russian official says the Kremlin will find other importers after EU moves to partially ban oil imports from Moscow

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