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Oil Slumps By Over $2/bbl, Dogged By Recession Fears
Oil prices briefly erased some losses after officials said the U.S. Energy Department will repurchase 3 million barrels of domestic crude oil for the Strategic Petroleum Reserve.
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Electric Vehicles Confront The Leap To The Mass Market
The automobile industry is pouring more than $1 trillion into a revolutionary shift from combustion engines to electric vehicles guided by software.
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Taiwan To Fine Foxconn For Unauthorised China Investment
Taiwan has turned a wary eye on China's ambition to boost its semiconductor industry and is tightening legislation to prevent what it says is China stealing its chip technology.
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STMicro, Soitec Deepen Cooperation Over Fast-Growing Semiconductor Material
Soitec and STMicroelectronics are deepening their cooperation over the manufacturing of a key and fast-growing material used in the electric car industry.
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U.S. Urges Caution On Low-Quoted Russian Oil Prices As EU Debates Price Cap
The Biden administration broke its silence on European Union deliberations over a $65-70 per barrel Russian oil price cap, warning far-lower prices cited for some Russian Urals crude shipments should be approached with caution.
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Tesla Launches EVs In Thailand Amid Competition From Cheaper Brands
Tesla launched two EVs in Thailand, marking its first foray into the regional autos hub that has long been dominated by Japanese manufacturers.
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Oil Settles Up $2 On Tighter Supply; OPEC+ Talks Limit Gains
Oil prices settled up by over $2 per barrel on signs of tighter supply, a weaker dollar and optimism over a Chinese demand recovery.
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OPEC+ Switch To Virtual Meeting Signals Policy Roll-Over Ahead Of Russian Oil Price Cap - Report
The OPEC+ decision to hold its Dec. 4 meeting virtually signals little likelihood of a policy change.
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Factbox - Western Governments Struggle To Agree On Russian Oil Price Cap
Western governments want to set a maximum purchase price for Russian oil on the world market to limit Moscow’s ability to raise money for its war on Ukraine.
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Uber, Aurora To Expand Self-Driving Truck Ops In Texas To Meet Holiday Rush
Uber and Aurora Innovation will expand their driverless pilot program in Texas to meet increased delivery demand during the holidays.
Read More →India To Continue Buying Russian Oil, Ministry Source Says
India will continue buying Russian oil and even look for term contracts as sanctions allow purchases provided that Western services are not used.
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Reliance Makes Rare Buy Of Russian Naphtha, Ups Fuel Oil Imports
Reliance Industries is snapping up Russian refined fuels, including rare purchases of naphtha, after some Western buyers stopped Russian imports.
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Essar Group Plans Rs. 40,000 Cr. Petrochemical Complex In Odisha
Essar Group plans to set up a Rs. 40,000 cr. petrochemical complex in the eastern state of Odisha in a tie-up with a global player.
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G7 Coalition Agrees $60 Per Barrel Price Cap For Russian Oil
G7 nations and Australia said they had agreed a $60 per barrel price cap on Russian seaborne crude oil.
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Oil Prices Climb On Tight Supply Worries
Oil prices rose by as much as $1 per barrel after dropping below key technical support levels in the previous session, as an energy standoff between Europe and Russia focused investor minds on how tight fuel supply may become.
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Chip Maker Wolfspeed To Build New U.S. Factory To Meet Surging EV Demand
Wolfspeed will build a new multi-billion dollar factory in Chatham County, North Carolina to make the raw materials used for chips that power things like electric vehicles.
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Oil Rises 4% On Supply Threats, Still Set For Weekly Drop
Oil prices rose about 4% supported by real and threatened cuts to supply, although futures posted a second weekly decline.
Read More →U.S. Commerce Aims To Seek Chips Funding Proposals By February
The U.S. Commerce Department said it hopes by February to begin seeking applications for $39 billion in government semiconductor chips subsidies to build new facilities and expand existing U.S. production.
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India's BPCL Plans To load Sokol Cargo In Sept - Report
Indian state-refiner Bharat Petroleum Corp is re-attempting to charter a ship to load 700,000 barrels of Russia's Sokol crude oil this month, sources familiar with the deal said.
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Shenzhen Shuts Most Public Transport As China Battles Multiple Outbreaks
The main districts of Chinese tech hub Shenzhen shut down public transport and extended curbs on public activities as cities across China battled COVID-19 outbreaks that have dampened the outlook for economic recovery.
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