Huge traffic jams expected on Monday from hell: Drivers urged to work from home as protestors plot to block key roads July 4, 2022 Roads in various parts of the country could be subject to traffic jams today as protesters take action and call for a cut in fuel duty. Protests will target mainly three-lane motorways and see slow-downs on two lanes, leaving the fast lane free, according to FairFuelUK founder Howard Cox. Police have warned of “serious disruption [...]
OPEC+ to avoid pledges to further boost oil output despite Western pressure June 30, 2022 Western hopes for more oil are dwindling, as the world's most influential cartel refuses to commit to September supply increases.
UK cuts oil imports from Russia after Ukraine invasion as Norway establishes energy dominance June 29, 2022 Imports of Russian oil have tanked this year, following the country’s invasion of Ukraine with traders seeking alternatives after Western sanctions.
Oil round up: G7 stops short of unveiling mooted oil price cap while OPEC revels in rising revenues June 28, 2022 The G7 has stopped short of banning the transport of Russian oil above a certain price, and will instead just explore the option.
Oil prices slump as recession fears rise June 23, 2022 Oil prices continued to decline this morning across both major benchmarks, weighed down by the growing risk of a recession.
Sunak praises North Sea oil and gas industry despite imposing windfall tax June 22, 2022 Rishi Sunak has reaffirmed his support for the North Sea oil and gas industry, labelling it “the foundation of the UK’s energy supply/"
Petrol prices climb to new records despite dip in oil prices June 20, 2022 Petrol prices hit a new record yesterday, despite a fortnight of falling wholesale costs, triggering intense criticism from UK motoring groups.
Western sanctions struggle to hit Russian revenues, reveals IEA report June 15, 2022 Higher crude oil and fuel prices allowed Russian revenues to climb in May, revealed the International Energy Agency in its latest report.
UBS hikes oil price expectations as supplies tighten across global markets June 14, 2022 Low oil inventories, dwindling spare capacity, and supply fears have prompted UBS to rise its pricing forecast for crude oil this year
Oil prices flat as tight markets compete with dropping demand ahead of IEA report June 13, 2022 Oil prices have flatlined - with benchmarks being pulled from both directions by competing factors in a volatile market.