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Berkshire Hathaway Sells $34.4 Million Worth Of Shares In China's BYD
The sale lowered Berkshire's holdings in BYD's total issued H-shares to 14.95%
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U.S. Senator Manchin Says Treasury Should Limit Commercial EV Tax Credit Use
The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others.
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Oil Muted As Price Cap Proposal Eases Supply Concerns
A bigger-than-expected build in U.S. gasoline inventories and widening COVID-19 controls in China also added downward pressure on crude prices.
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Ukraine's Zelenskiy Says Europe Must Avoid Division, Set Low Price For Russia's Oil
Ukraine's President Volodymyr Zelenskiy on Friday called on Europeans to remain united against Russia's war and to severely limit the price for Russian oil.
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Oil Prices Fall 2% As Chinese Demand Worries Linger
U.S. West Texas Intermediate (WTI) crude futures were down $1.66, or 2.1%, at $76.28 a barrel. There was no WTI settlement on Thursday due to the U.S. Thanksgiving holiday and trading volumes remained low.
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OPEC+ Meeting To Take Into Account Market Conditions: Report
OPEC+'s October decision to reduce production by two million barrels per day (bpd) had played an important role in stabilising global markets, Saadoun, who serves as Iraq's delegate to OPEC, said.
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India Shares Defy Global Weakness, On Oil Slide To Close At New Record
The NSE Nifty 50 index rose 0.27% to settle at 18,562.75, and the S&P BSE Sensex climbed 0.34% to end at 62,504.80, with both notching closing highs for the third straight session.
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India To Receive First LNG Cargo From Indonesia's Tangguh LNG
The LNG cargo is being transported by the BW Helios tanker, said Olumide Ajayi, senior LNG analyst at Refinitiv.
Read More →U.S. Crude Turns Positive, Brent Pares Losses On OPEC+ Cut Rumors
Price action was volatile. U.S. West Texas Intermediate (WTI) crude settled up 96 cents, or 1.3%, at $77.24, after earlier touching its lowest since December 2021 at $73.60.
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Oil Prices Slid 2% As Dollar Firms And Central Banks Hike Interest Rates
After rising for three straight days, Brent futures fell $1.49, or 1.8%, to settle at $81.21 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.17, or 1.5%, to settle at $76.11.
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India Probes Possible Misappropriation Of Incentives By EV Makers
India is investigating the possible misappropriation of incentives given to EV makers under a Rs. 10,000 crore programme to promote their faster adoption.
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Wall St Falls As U.S. Crude Oil Shakes Off Losses
While a surge in COVID cases and clashes between police and protesters across several major Chinese cities over the weekend helped push U.S. Treasury yields lower, that move had also reversed course in afternoon trading.
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India Purchased 40% Of Seaborne Russian Urals Oil In November: Report
Russian Urals oil shipments to India accounted for about 40% of the total sea exports of Urals in November, not including the transit of oil from Kazakhstan, which is sold as KEBCO, Reuters calculations showed.
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Western Governments Struggle To Agree On Russian Oil Price Cap
The plan is meant to punish Russia while at the same time keeping its vast petroleum exports flowing to energy-starved global markets to tamp down inflation.
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EU Inches Towards Deal On Russian Oil Price Cap This Week
The deadline for a deal is Dec. 5 because that is when the EU's own full embargo on purchases of Russian seaborne oil, agreed at the end of May, kicks in.
Read More →Oil Up On China COVID Hopes, But OPEC+ Output Concerns Offset Gains
Oil rose on Tuesday on expectations for a loosening of China's strict COVID-19 controls, but concerns that OPEC+ would keep its output unchanged at its upcoming meeting limited gains.
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South Korea's Yoon Ready To Offer 'Tailored' Benefits To Attract Tesla Gigafactory: Report
Yoon held a video call with Tesla Chief Executive Elon Musk last week and Yoon's office cited Musk as saying South Korea is among the top candidate locations for a new Tesla factory.
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Kosovo, Serbia Reach Deal To End Dangerous Dispute Over Car Plates -EU
Kosovo and Serbia reached a deal on Wednesday to end a nearly two-year dispute over car licence plates in northern Kosovo, which the West had warned could trigger ethnic violence, the European Union's foreign policy chief said.
Read More →OPEC+ Switch To Virtual Meeting Signals Policy Roll-Over Ahead Of Russian Oil Price Cap: Report
A virtual meeting puts the focus on the pending European Union deal over the price cap on Russian oil, as well as a Dec. 5 deadline imposed by the bloc for a full embargo on purchases of Moscow's seaborne crude.
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Chinese Dealers Seek Compensation Over Stellantis Jeep Failure
Stellantis is overhauling its strategy in China after agreeing to file for bankruptcy of its Jeep joint venture with local partner Guangzhou Automobile Group (GAC) in October.
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