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The Latest Breaking News from Oil

PTTEP, Eni discover new source of gas in UAE

PTT Exploration and Production Plc (PTTEP) has discovered a new source of gas in the United Arab Emirates (UAE), described as one of its most significant discoveries in recent years.

Bangkok Post

Fish and chip shops struggling under weight of 13% cost rises in a year, warns Labour

Research by the Labour Party found that the price of flour and cereals have risen by 19.3% in the past year, while fish is up by 8% and oils and fats by 16.6%

Daily Mirror

Issuing fresh sanctions on Iran, US targets Chinese, UAE firms

The firms were being used by Iran to facilitate the sale of Iranian oil and petrochemical products, the US said.

Al Jazeera

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US sanctions UAE, Hong Kong firms that ship Iranian oil

The U.S. has sanctioned a United Arab Emirates-based firm and several Asian companies for facilitating the illicit sale of millions of dollars’ worth of Iranian oil for shipment to East Asia

The Independent UK

Manchin spending deal includes billions in oil import taxes

WASHINGTON — The climate and tax spending deal announced last week by Senate Majority Leader Chuck Schumer and Sen. Joe Manchin could cost billions in new taxes.

Tribune News Service

US Targets Chinese Firms in New Iran Oil Sanctions

The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear program. The US Treasury and the US…

Asharq Al-Awsat

African nations expected to make case for big rise in fossil fuel output

Exclusive: leaders expected to say at Cop27 they need access to their oil and gas reserves despite effect on global heating

The Guardian - UK

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5 Short Squeeze Stocks That May Soar, Plus 5 To Watch: ToughBuilt, Solo Brands And This Oil Stock

Potential short squeeze plays gained steam in 2021 and continued through 2022, with new retail traders looking for the next huge move.

Benzinga

A1 reopens following serious oil tanker collision in Northumberland which closed road for seven hours

The road remained closed for around seven hours following the collision which resulted in large oil spillage

Chronicle Live

U.S. Stocks Turn Higher; Crude Oil Tumbles

U.S. stocks turned higher midway through trading, after recording gains in the previous session.

Benzinga

Valvoline to sell its global products arm to Saudi's Aramco

Saudi Aramco has announced a $2.65 billion agreement to acquire Valvoline’s global products business, which includes motor oils, transmission fluids, coolants and other automotive maintenance products

The Independent UK

Tesco shopper hits out at 'daylight robbery' over £7 olive oil

One Tesco shopper shared how the cost of a 1L bottle of olive oil had risen from £2.85 to £7.05 in a matter of four weeks.

Daily Record

3 Stocks Trading Near 52-Week Highs Right Now

Amid a seesawing economy and a highly volatile market backdrop, fundamentally sound stocks Occidental Petroleum Corp. (OXY), Molina Healthcare (MOH), and Greif (GEF) are currently trading near their 52-week highs. Given the solid fundamentals and momentum, these stocks could be ideal additions to one’s watchlist. Let’s discuss….

StockNews.com

Inflation is spiking around the world – not just in the United States

The 9.1% increase in U.S. consumer prices in the 12 months ending in June 2022, the highest in four decades, has prompted many sobering headlines.

The Conversation

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The Independent UK

Kuwait announces formation of new Cabinet to defuse crisis

Kuwait says it has formed a new government to defuse a protracted political feud that has blocked economic reforms in the oil-rich state

Asharq Al-Awsat

Kuwait Reappoints Oil, Finance Ministers in New Cabinet

Kuwait reappointed Oil Minister Mohammed Al-Fares and Finance Minister Abdul Wahab al-Rasheed in a cabinet formed on Monday under a new prime minister. Last week the crown prince of the Gulf Arab OPEC producer had named Sheikh Ahmed Nawaf al-Sabah as prime minister to replace Sheikh Sabah al-Khalid, who had…

The Conversation

How the blue economy will shape the future of Canada's oceans — and its coastal communities

The words “blue economy” will soon shape the future of Canada’s oceans, from the fiords and straits of British Columbia to the rugged coastlines of the Atlantic to the vast seascapes of the Arctic. The transformation of Canada’s ocean economies will be felt throughout the country and will set an…

The Independent UK

Budget bites: Cheap and cheerful recipes in 7 ingredients or less

You don’t need a huge shopping list to make delicious food, says Hannah Twiggs. You just need seven ingredients, 30 minutes and these clever recipes

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Tribune News Service

Commentary: Putin won’t let OPEC help bring down oil prices

Oil producers from the OPEC+ group meet on Wednesday to agree to the next step in their market management. For the first time in a year, there is no clear policy for them to rubber stamp. That could make for an interesting (virtual) gathering.

Daily Mirror

The common supermarket foods that have doubled in price - in just one year

The official figures show the cost of food has gone up by 10%, but new analysis shows many popular items have gone up in price by much more, including brands like Heinz and Petits Filous

Evening Standard

Let’s Make-Up: the new beauty launches to have on your radar in August 2022

Our series where we fill you in on the buzziest beauty launches to know this month

Tribune News Service

Quick Fix: Salmon Bowl a perfect light summer dinner

Looking for a light summer dinner? Here’s one using fresh salmon in a simple Salmon Bowl. I used sesame oil to cook the salmon and topped it with toasted sesame seeds.

Asharq Al-Awsat

Kuwait’s Al-Ghais Takes Role as OPEC Secretary General

Kuwait’s Haitham Al-Ghais assumed on Monday his new role as Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), following the late outgoing chief, Mohammad Barkindo. Al-Ghais affirmed his determination to work for the advancement of the international organization, especially considering the concerns surrounding the global energy market. In an…

The Guardian - UK

Three delicious and easy student recipes: baked gnocchi, loaded vegan nachos and chutney chicken

If it’s your turn to cook for your new university housemates or friends, you can’t go wrong with one of these simple-to-make recipes

Asharq Al-Awsat

Saudi Arabia Posts Highest Economic Growth Since 2011

The Saudi General Authority for Statistics (GASTAT) revealed on Sunday that the Kingdom’s real gross domestic product (GDP) jumped by 11.8 % year-on-year (YoY) in the second quarter of 2022. The announcement countered International Monetary Fund projections that the economy will grow at 7.6% this year, the highest growth among…

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