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The Latest Breaking News from Oil

Russia to Use Dubai Benchmark in Indian Oil Deal

Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp agreed to use the Dubai oil price benchmark in their latest deal to deliver Russian oil to India, three sources familiar with the matter said. The decision by the two state-controlled companies to abandon the Europe-dominated Brent benchmark…

Asharq Al-Awsat

Stocks Move Higher Before the Open as Investors Weigh Economic Outlook, U.S. JOLTs Report in Focus

June S&P 500 futures (ESM23) are up +0.15%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.29% this morning after three major U.S. benchmark indices finished the regular session mixed as weaker-than-expected U.S. factory activity data tempered inflation concerns caused by OPEC+’s surprise plan to cut oil production.

Barchart

Disney CEO Iger slams Florida governor DeSantis as 'anti-business'

Disney CEO Bob Iger has criticised Florida governor and Republican presidential hopeful Ron DeSantis as being "anti-business" and "anti-Florida". The comments are part of an ongoing feud between the entertainment giant and DeSantis that started when Disney voiced its opposition to a state law banning education on LGBT issues in…

France 24

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How to clean a rusty griddle – 4 steps to a summer-perfect grill top

Cleaning and cooking experts share how to clean a rusty griddle for a fresh cooktop for summer

Homes & Gardens

Revealed: UAE plans huge oil and gas expansion as it hosts UN climate summit

Exclusive: UAE’s fossil fuel boss will be the president of Cop28, making a mockery of the summit, say campaigners

The Guardian - UK

Venezuela opposition envoy urges Biden to ease oil sanctions

Fernando Blasi’s call reflects a sharp break from the opposition’s maximum pressure campaign of the past four years.

Al Jazeera

Baghdad, Erbil Set to Restart Northern Oil Exports Tuesday

Iraq's federal government and the Kurdistan Regional Government (KRG) have reached a final deal to restart northern oil exports to be announced Tuesday, official sources told Reuters. A formal request has been sent to Türkiye to restart oil exports through an Iraq-Türkiye pipeline and "in the next few hours pumping…

Asharq Al-Awsat

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Voluntary Oil Production Cut: Decision to Balance Demand, Production Levels

Oil and economic experts confirmed that the voluntary oil production cuts taken by oil-exporting countries within OPEC+, starting May and continuing until the end of 2023, aim to achieve market balance. Mubarak Alhajeri, a faculty member at Kuwait's College of Technological Studies, explained that the cut had shocked global markets…

Asharq Al-Awsat

George Skelton: California's evolution on Big Oil — in the state Capitol and my own family

SACRAMENTO, Calif. — What's striking about passage of Gov. Gavin Newsom's legislation to penalize Big Oil's alleged greed is the sea change it represents in California policy.

Los Angeles Times

Should You Buy Oil Stocks Now? How to Profit From the OPEC+ Production Cut

OPEC+ announced they would cut oil output by 1.16 million bpd. Here's how to potentially profit from it.

Barchart

Asian shares mixed as surging oil prices fan inflation fears

Shares are mostly higher in Asia as investors watch for the latest moves by central banks

The Independent UK

Falling energy prices mean Scotland faces higher deficit than rest of UK

Latest forecast suggests Scotland’s deficit could be close to £1,300 higher per person

Insider UK

Make Easter roast dinner leftovers go further with this lamb massaman curry

This banging recipe will make you want to save all your Easter roast dinner leftovers and trimmings, says Sebby Holmes

The Independent UK

ADB forecasts China, India to power strong growth in '23

The Asian Development Bank says China's recovery from the pandemic and strong demand in India will drive strong economic growth in Asia this year

The Independent UK

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The Independent UK

Judge: Alaska oil project can proceed as lawsuits play out

Construction can proceed related to a major oil project on Alaska’s petroleum-rich North Slope

Tribune News Service

Yellen says OPEC+ cut ‘unconstructive’ as world fights inflation

U.S. Treasury Secretary Janet Yellen criticized the decision by OPEC+ oil producers over the weekend to cut output, saying it was “unconstructive” and would add to the uncertainty overhanging global growth.

ABC News

Reserve Bank flags 'further tightening' to tame inflation after leaving interest rates on hold at 3.6pc, ASX closes higher

The Reserve Bank has left interest rates on hold at 3.6 per cent, but says some further tightening of monetary policy may be needed, while the Australian share market hit a fresh three-week high.

Barchart

Stocks Close Mostly Higher as Bond Yields Fall on Weak U.S. Manufacturing News

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Monday closed up +0.37%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.98%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.25%. Stock indexes Monday settled mixed, with the S&P 500...

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ABC News

How Flinders Island residents developed a taste for mutton bird, or shearwaters, a meat that tastes like a mix of seafood and chicken

Eating mutton bird is part of a long culture in the Furneaux Island group. While the rest of Australia is enjoying the short-tailed shearwater with binoculars, island dwellers are getting out their knives and forks.

Kiplinger

Stock Market Today: Stocks Finish Mixed After Surprise OPEC+ Announcement

The Organization of the Petroleum Exporting Countries and its allies over the weekend announced a surprise cut to crude production.

Barchart

Crude Prices Settle Sharply Higher after OPEC+ Cuts Production

May WTI crude oil (CLK23 ) on Monday closed up +4.75 (+6.28%), and May RBOB gasoline (RBJ23 ) closed up +7.65 (+2.85%). Crude oil and gasoline prices Monday rallied sharply, with crude posting a 2-1/4 month high and gasoline posting a 5-1/4 month high. The main bullish factor was the...

Kiplinger

Oil Prices Rise Sharply Following OPEC Announcement

In total, cutbacks in production will be over one million barrels a day. Because of these announced cutbacks, the global benchmark of oil prices, Brent crude, had a 5.31% increase in cost, rising to $84.13 a barrel. The U.S. benchmark, WTI, surged to $79.83 a barrel, a 5.48% increase.

Real Homes

How to use an essential oil diffuser — tips from someone who is obsessed with hers

A guide to how to use an essential oil diffuser at home.

Barchart

Sugar Prices Follow Crude Oil Higher

May NY world sugar #11 (SBK23 ) on Monday closed up +0.15 (+0.67%), and May London white sugar #5 (SWK23 ) closed up +3.10 (+0.49%). Sugar prices Monday posted moderate gains, with NY sugar climbing to a 6-1/2 year nearest-futures high and London sugar climbing to a 10-1/2 year high...

France 24

Starting to sting? Putin denounces sanctions as oil revenues contract

Are those sanctions starting to bite? On the surface, it's business as usual for a Russia that on Saturday took over the rotating presidency of the UN Security Council and still enjoys plenty of support from the likes of China. But last week, President Vladimir Putin for the first time…

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