Auto Industry News
Stocks, Oil Struggle To Hold Ground As Minutes Show Fed Rally Around Rate Hikes
Oil struggled to stay above $100 a barrel, dropping to a 12-week low on recession fears earlier in the trading day. In the afternoon, Brent crude ended down 2.3% at $100.40 a barrel. That comes one day after Brent fell 9% on supply concerns.
Oil Rises More Than 2% As Supply Outages Outweigh Recession Fears
Jul 28, 2022 11:51 PM
Low crude and fuel supplies supported the oil market even as equities slumped and the U.S. dollar, which typically has an inverse relationship with crude, rose.
India's June Crude Imports Up On Demand Recovery, Russian Discounts
Jul 28, 2022 11:48 PM
Fuel consumption in the world's third-biggest oil consumer also increased in June, and seemed to be heading back towards pre-pandemic levels.
EU Sanctions Tweak To Unblock Russian Oil Deals With Third Countries
Jul 28, 2022 11:45 PM
Major trading houses such as Vitol, Glencore and Trafigura as well as oil majors such as Shell and Total have stopped trading Russian oil for third parties, citing EU sanctions, including restrictions on insurance.
Oil Gains $5 On Weaker Dollar, Tight Supplies
Jul 28, 2022 11:42 PM
Brent crude futures for September settlement gained $5.11, or 5.1%, to settle at $106.27 a barrel, after rising 2.1% on Friday.
U.S. Not Expecting Saudi Arabia To Immediately Boost Oil Output
Jul 28, 2022 11:42 PM
The U.S. could secure a commitment that OPEC+ will boost production in the months ahead, which could send a signal to the market that supplies are coming if necessary.
Oil Up 2.5% As No Immediate Saudi Output Boost Expected
Jul 28, 2022 11:40 PM
The United States could still secure a commitment that OPEC will boost production in the months ahead in hopes that it will provide a signal to the market that supplies are coming if necessary.
Ford, SK On Finalize U.S. EV Battery Joint Venture
Jul 28, 2022 11:34 PM
The JV, BlueOval SK LLC, will establish a battery plant for electric vehicles (EV) in Tennessee and two other facilities in Kentucky, the U.S. automaker said in a regulatory filing.
GM Signs Agreements With Suppliers, On Course To Reach 1 Million EV Capacity By 2025
Jul 28, 2022 11:30 PM
General Motors Co said on Tuesday it had signed multi-year agreements with LG Chem Ltd and Livent Corp to secure key raw materials used in manufacturing batteries for electric vehicles.
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