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The Latest Breaking News from Oil

Asian stocks mixed, oil prices shoot past $115

Asian shares are mixed after reports showed China's manufacturing slowdown is moderating

The Independent UK

Russia-Ukraine war: what we know on day 97 of the invasion

Airstrike hits chemical plant in Sievierodonetsk; African Union warns that Moscow blockade of Ukrainian ports risks ‘catastrophic’ food shortages

The Guardian - UK

EU leaders agree to Russian oil ban after compromise with Hungary

EU says deal will effectively cut 90 percent of oil imports by year-end, cutting off key source of Moscow’s war funding.

Al Jazeera

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EU leaders agree "in principle" on Russia oil embargo - von der Leyen

EU leaders have reached an agreement "in principle" on banning oil imports from Russia, European Commission chief Ursula von der Leyen said early on Tuesday.

Reuters

Two men accused of running Breaking Bad-style meth lab hidden on rural property near Braidwood sentenced to jail

A drug cook and his accomplice, who produced a large quantity of methamphetamine oil at an isolated property near Braidwood, are sentenced to several years in jail.

ABC News

European Union agrees to partial embargo on Russian oil as part of Ukraine invasion sanctions

European Union leaders reach a compromise on a long-delayed package of sanctions that was being blocked by Hungary, agreeing to impose a partial oil embargo on Russia.

ABC News

The EU will block most Russian oil imports as Hungary's Orbán fights off a total ban

Pipeline deliveries, which are critical to Hungary, Slovakia and the Czech Republic, won't be affected by the ban. The much more complicated issue of Russian natural gas remains unresolved.

WEKU

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Sales curtailing new mantra for oil cos to cut losses: Dealers

NAGPUR: Amid high fuel costs pinching consumers, petroleum dealers have complained of oil marketing companies resorting to unofficial rationing in supply of diesel. Some private companies had stopped supply of diesel at their outlets for around couple of months, only to restart it on Monday.

The Times of India

EU leaders agree to ban export of Russian oil to the bloc - EU's Michel

EU leaders agreed on Monday to ban the export of Russian oil to the 27-nation bloc, EU Council President Charles Michel said.

Reuters

EU agrees ban on 'more than two thirds' of Russian oil imports

European Union leaders reached a compromise Monday to impose a partial oil embargo on Russia at a summit focused on helping Ukraine with a long-delayed package of sanctions that was blocked by Hungary.

France 24

Latest Ukraine updates: Russia controls ‘most’ of Severodonetsk

Latest Ukraine news from May 31: Luhansk governor says Russian forces are set to take over the eastern Ukrainian city.

Al Jazeera

MPI labours amid conflict

Thailand's Manufacturing Production Index (MPI) managed to increase slightly in April, rising 0.56% year-on-year to 91.79 points amid the prolonged impact of the Russia-Ukraine war.

Bangkok Post

ASX dragged down by tech, banks and telecommunications

Australian shares close lower on Tuesday, after the majority of sectors dragged on the ASX 200.

ABC News

EU leaders aim to break oil ban impasse with unity at stake

BRUSSELS — European Union leaders intend to give their political backing to a ban on Russian oil, paving the way for a possible agreement next month on a sixth package of sanctions targeting Moscow for its invasion of Ukraine.

Tribune News Service

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Newsroom.co.nz

Reserve Bank takes on fuel prices in readiness for a climate change remit

The central bank is looking to balance its obligation to manage inflation with the necessary costs of cutting emissions, in consultation on its remit.

France 24

What is Europe's next move? EU weighs up sixth round of sanctions against Russia

The EU is weighing up more sanctions against Russia. In Brussels, a special summit has been examining a sixth round of sanctions against Moscow since the Russian invasion of Ukraine began on February 24. Is this the moment an oil embargo comes into play?

The Times of India

'No purchase' by petrol pump dealers on Tuesday to demand higher commission

NEW DELHI: A petrol pump dealers' association will on Tuesday resort to 'no purchase of petrol and diesel' in protest against no increase in their commission by the oil marketing companies, but the protest is unlikely to disrupt supplies as fuel bunks have enough stocks to last couple of days.

Asharq Al-Awsat

Putin Ready to Facilitate Unfettered Grain Exports from Ukraine’s Ports, Says Kremlin

President Vladimir Putin said on Monday that Russia was ready to facilitate the unhindered export of grain from Ukrainian ports in coordination with Turkey, according to a Kremlin readout of talks with President Recep Tayyip Erdogan. Besides the death and devastation sown by Russia's invasion of Ukraine, the war and…

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The Hindu

Agriculture minister bats for promotion of oil palm cultivation

KARIMNAGAR

The Times of India

ONGC seeks permission from Bihar govt to conduct oil exploration in Buxar, Samastipur

PATNA: Bihar may soon be recognised as a mineral rich state as several fresh explorations for assessing presence of minerals are set to commence over the next few months.

The Guardian - UK

Could a cartel of large energy consumers cut oil and gas prices?

Italy’s PM Mario Draghi suggests big consumers club together to limit how much is paid and raises idea of EU gas price cap

The Guardian - UK

Brent crude rises above $120 a barrel as UK fuel prices hit record highs

Price increases on global oil markets and at UK forecourts add to concerns about rising inflation and its impact

The Guardian - UK

EU leaders agree to partial embargo of Russian oil imports

Some 75% of imports will be banned and Sberbank ejected from Swift but Hungary, Czech Republic and Slovakia to keep supplies

The National (Scotland)

Anas Sarwar branded 'austerity apologist' after defending Tory public service funding

SCOTTISH Labour chief Anas Sarwar has been accused of “airbrushing austerity” after defending Westminster’s funding of public services over…

Birmingham Post

Wren to run on green diesel as kitchen giant turns to used cooking oil for delivery fleet

200 vehicles identified for summer switch after three month trial at Barton base

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