Oil Stabilizes
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Cash Crunch May Force Sale of Stability AI
As tech giants start to dominate the artificial intelligence market, smaller players feel the squeeze.Inc. - Business -
Iran Moves to Project Stability After President Raisi Dies in Helicopter Crash
The ayatollah announced five days of mourning for the president and foreign minister who died when their helicopter plunged into a mountainous region. Some Iranians celebrated the deaths.The New York Times - World - Iran -
Niger’s first oil exports
The west African country is on the verge of becoming a regional oil majorFinancial Times - World -
Wildfires rage in Canada’s oil hub
Blazes put more than 2mn barrels a day of supply at risk amid geopolitical tensions in Middle East and RussiaFinancial Times - World -
Oil Prices Rise But Stay Stuck in Narrow Range
Oil futures edged higher with the market awaiting OPEC’s next move, with three possible scenarios for the June 1 meeting—extend, unwind or completely remove the voluntary cuts of 2.2 million barrels a day.The Wall Street Journal - World -
Oil Falls on Concerns of Higher-for-Longer U.S. Rates
Oil prices declined as some Fed officials remain cautious on the recent easing of inflation, prompting concerns that U.S. interest rates could stay high for longer.The Wall Street Journal - World -
Biden and Big Oil Had a Truce. Now, It’s Collapsing.
Companies were enjoying record profits. But the president’s decision to pause permits for gas export terminals has whipped up industry support, and donations, for Donald Trump.The New York Times - Top stories - Joe Biden -
Oil prices rise as crude inventories fall and U.S. inflation eases
West Texas Intermediate and Brent are flat for the week. The contracts have lost 4% and 5.8%, respectively, for the month.CNBC - Business -
Chevron to sell UK North Sea assets as it exits ageing oil basin
Company to focus on newer oilfields, bringing to an end more than 55 years of operations in regionFinancial Times - Business - United Kingdom -
Collusion claims in US oil must reckon with record production
It should be no surprise that Texans are themselves capitalists firstFinancial Times - World -
Chevron to sell off its remaining North Sea oil and gas fields
US company denies decision is linked to UK’s 35% windfall tax on North Sea producers. Chevron is preparing to call time on more than five decades in the North Sea with a plan to sell its remaining oil and gas fields in the ageing oil basin.. The ...The Guardian - World -
Oil Prices Rise on Positive Inflation Data, Stockpile Falls
Oil prices rose, with positive sentiment supported by positive economic data and a fall in inventories.The Wall Street Journal - World -
Texas barge crash spills "environmentally toxic" oil into water
The barge was carrying vacuum gas oil, which has been linked to skin cancer and lung issues and is considered "environmentally toxic."CBS News - Top stories -
Martin Rowson on climate change, and the price of olive oil – cartoon
Continue reading...The Guardian - World - Climate -
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Latest Houthi strike in Red Sea hits oil tanker: US officials
The latest attack by Yemen's Houthi rebels in the Red Sea struck a Greek-owned and operated oil tanker with a ballistic missile early Saturday, according to U.S. officials. The Iranian-backed group hit the oil tanker Wind at around 1 a.m. local ...The Hill - Politics -
Oil prices fall as traders monitor developments in Iran after president's death
Ebrahim Raisi, president of OPEC's third-largest producer, died in a helicopter accident.CNBC - Business - Iran -
Green activists push Biden to freeze ‘disastrous’ deepwater oil export rigs
Sensing election-year traction, coalition of 20 environmental groups also demand entrenchment of pause in gas-export licences. Joe Biden’s administration is coming under renewed pressure to escalate its curbs on the US’s booming trade in fossil ...The Guardian - World - Joe Biden -
Oil prices settle lower as traders fret over the outlook for demand
Oil futures finished lower Tuesday to notch back-to-back session losses, with traders concerned about the outlook for crude demand as the Federal Reserve maintains higher interest rates.MarketWatch - Business -
Climate victims file criminal case against bosses of oil firm Total
Case alleges French company’s exploitation of fossil fuel contributed to deaths of victims in extreme weather disasters. A criminal case has been filed against the CEO and directors of the French oil company TotalEnergies, alleging its fossil fuel ...The Guardian - World - Climate -
UK and Finland discuss further efforts to stop Russia’s shadow oil fleet
Third parties could be required to do more to block tankers from operating in Baltic and the Channel. Russia-Ukraine war – latest news updatesBritain and Finland are discussing plans to require third parties to do more to block the Russian shadow ...The Guardian - World - United Kingdom -
Shell investors back oil major’s move to weaken climate targets
Shareholders reject resolution by activist group Follow This urging tighter goalsFinancial Times - Business - Climate -
Alleged ‘deal’ offer from Trump to big oil could save industry $110bn, study finds
Ex-president at Mar-a-Lago last month hosted more than 20 executives, including from Chevron, Exxon and Occidental. A “deal” allegedly offered by Donald Trump to big-oil executives as he sought $1bn in campaign donations could save the industry ...The Guardian - World - Donald Trump -
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U.S. oil prices settle at one-week high on post-CPI relief rally and drop in crude supplies
U.S. oil prices settled at their highest level in a week on Thursday, extending a relief rally sparked by data showing a slowdown in key U.S. inflation data.MarketWatch - Business -
Extent of oil spill following barge collision with Texas bridge unclear: Coast Guard
Officials are monitoring an oil spill in Texas waterways after the partial collapse of a bridge that was struck by a barge.ABC News - Top stories -
Rain, cooler temperatures help prevent wildfire near Canada's oil sands from growing
A wildfire that has forced thousands of people out of their homes in Canada’s oil sands hub city of Fort McMurray, Alberta is being held in place as rain and cooler temperatures sweep through the areaABC News - World -
Oil scores weekly gains, with U.S. prices ending above $80 for first time this month
Oil futures climbed Friday, contributing to gains for the week and prompting U.S. benchmark prices to settle above $80 a barrel for the first time this month, as some economic data from the U.S. and China raised hopes for stronger crude demand.MarketWatch - Business -
New endangered listing for rare lizard could slow oil and gas drilling in New Mexico and West Texas
Federal wildlife officials have declared a rare lizard in southeastern New Mexico and West Texas an endangered speciesABC News - Tech -
Yemen's Houthi rebels launch a missile that strikes an oil tanker in the Red Sea, US military says
Ballistic missile damaged a Panama-flagged, Greek-owned vessel.ABC News - Top stories -
Houthi missile strikes Greek-owned oil tanker in Red Sea, U.S. says
It comes just two days after the Houthis shot down another U.S. military MQ-9 Reaper drone.CBS News - Top stories -
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Residents forced out of Canada's oil sands hub by wildfire cleared to return, officials say
Authorities say residents ordered out of Canada’s oil sands hub of Fort McMurray, Alberta due to a nearby wildfire are clear to return homeABC News - World -
Russia’s War Machine Revs Up as the West’s Plan to Cap Oil Revenues Sputters
Russia has largely evaded attempts by the U.S. and Europe to keep it from profiting from its energy exports.The New York Times - Business - Russia -
Oil prices finish lower, giving up early gains seen after death of Iran’s president
Oil futures settled lower on Monday, giving up early gains that had been tied to potential risks to global crude supplies following the death of Iran’s president in a helicopter crash and concerns about the health of Saudi Arabia’s king.MarketWatch - Business -
Top oil firms’ climate pledges failing on almost every metric, report finds
Oil Change International says plans do not stand up to scrutiny and describes US fossil-fuel corporations as ‘the worst of the worst’ . Major oil companies have in recent years made splashy climate pledges to cut their greenhouse gas emissions and ...The Guardian - World - Climate -
Oil prices drift lower but remain stuck in narrow range as market struggles to find catalysts
U.S. crude oil and global benchmark Brent have traded in a $3 range this month since selling off from April highs.CNBC - Business -
Trump pitch to oil companies turns off two-thirds of likely voters, poll finds
Broad majorities of voters aren’t happy with Trump’s apparent offer of a quid pro quo to oil companies, a poll from an advocacy group has found. Almost 6 in 10 likely voters surveyed — 58 percent — said they were “concerned” about a second Trump ...The Hill - Politics - Donald Trump