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Oil Ends Higher On U.S. Response To Iran Nuclear Deal Comments
Oil prices ended Wednesday higher after a volatile trading session. Brent crude settled up $1.00 to $101.22 while U.S. crude settled up $1.15 to $94.89 a barrel.
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India's July Crude Oil Imports Jump 35%
Oil product imports rose 5.4% from a year earlier to 3.73 million tonnes, while exports fell by 0.4%.
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Mercedes Set To Lead India's Luxury EV Market As Tesla Stays Out
Mercedes-Benz will launch three new electric cars this year, be the first company to assemble a luxury EV, and will set up a fast-charging network nationwide
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Oil Sinks About 4% After Weak Factory Data Sparks Demand Concerns
Oil prices dropped about 4% as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week's meeting of OPEC and its producer allies on supply.
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OPEC+ Sees Slightly Smaller Oil Market Surplus This Year, Sources Say
OPEC+ sees this year's oil market as slightly less supplied than previously thought, a day ahead of a meeting at which the producer group is set to decide on its production policy for next month.
Read More →Cuba Gets Help From Mexico, Venezuela To Fight Oil Fire
Cuba appeared to make progress bringing under control a fire at its main oil storage facility that has killed one firefighter, drawing on help from Mexico and Venezuela to fight the raging flames.
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Indian Oil Corp Unit To Open 50 Fuel Stations In Sri Lanka To Help Alleviate Crisis
Sri Lanka has given approval for India's Lanka Indian Oil Corporation (LIOC) to open 50 new fuel stations, a company official said on Monday, as part of efforts to reduce severe shortages that have crippled the island nation.
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Oil Rises Nearly 2% On Strong Economic Data But Trade Choppy
Oil prices rose nearly 2% in volatile trading, bouncing off multi-month lows touched last week, as positive economic data from China and the United States fed hopes for demand despite nagging fears of a recession.
Read More →Ukraine Halted Oil Flows To Europe Over Payment Issue, Russia's Transneft Says
Ukraine has suspended Russian oil pipeline flows to parts of central Europe since early this month because Western sanctions prevented it from accepting transit fees from Moscow, Russian pipeline monopoly Transneft said.
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Devastating Fire May Force Cuba To Resort To Floating Oil Storage
An inferno at Cuba's largest oil storage facility has killed at least one firefighter, injured many more, and threatens to further swell the fuel import bill for the impoverished island nation that relies on foreign oil for everything from transportation to its power grid.
Read More →Clashes In Oil-Rich Shabwa Test Yemen's New Presidential Council
Yemen's new presidential council is under strain over clashes between nominal allies in oil-rich Shabwa this week, imperilling Saudi Arabia's efforts to strengthen an anti-Houthi coalition and potentially complicating international peace efforts.
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Oil Settles Lower On Weak Economic Chinese Economic Data
Oil prices settled lower after disappointing Chinese economic data renewed concerns of a global recession that would be expected to reduce fuel demand.
Read More →Barclays Sees Crude Surplus In Near-Term, Cuts Brent Price View
Barclays lowered its Brent price forecasts on Tuesday by $8 per barrel for 2022 and 2023, as it expects a large surplus of crude oil over the near-term due to "resilient" Russian supplies.
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Australia To Target Vehicle Emissions To Boost Electric Car Supply
Australia's government said it plans to introduce new regulations targeting vehicle carbon emissions to boost the uptake of electric cars, as it looks to catch up with other developed economies.
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Musk Approaches Brain Chip Startup Synchron About Deal Amid Neuralink Delays -Sources
Elon Musk has approached brain chip implant developer Synchron Inc about a potential investment as his own company Neuralink plays catch-up in the race to connect the human brain directly to machines, according to four people familiar with the matter.
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Einhorn's Greenlight Takes Stake In Twitter - Letter
Hedge fund Greenlight Capital said it took a new stake in Twitter last month as the social media company sued to force Elon Musk to buy the company even as the billionaire entrepreneur said he has changed his mind about the deal.
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EV Maker Nikola Beats Revenue Estimates On Higher Deliveries
Nikola Corp exceeded market estimates for quarterly revenue as the electric-vehicle maker delivered more semi trucks after a production ramp-up, sending its shares 6% higher in trading before the bell.
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U.S. Lawmakers Urge Joint Use Of Funds For Broadband, EV Charge Stations
A group of 10 U.S. House Democrats asked President Joe Biden's administration to build electric vehicle charging stations together with broadband internet infrastructure under the $1 trillion infrastructure law approved in November 2021.
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Foxconn To Build Autonomous Electric Tractors At Ohio Facility
Taiwan's Foxconn, the world's largest contract electronics maker, said it will build driverless electric tractors for California-based Monarch Tractor at its Lordstown, Ohio, facility starting in early 2023.
Read More →Foxconn Starts To Feel Sting Of Slowing Smartphone Sales
Apple iPhone assembler Foxconn gave a cautious outlook for the current quarter after posting results that exceeded expectations, citing slowing smartphone demand after a pandemic-fuelled boom.
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