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U.S. Says Russia Oil Price Cap Will Not Be Aimed At OPEC
The comments could help ease a spat between the United States and Saudi Arabia, the top oil exporter and de facto OPEC leader, over what Washington sees as collaboration with Russia to deprive markets of supply just as a global recession looms.
Oil Up In Tight Market As U.S. Sets Release Of More Reserves
Oct 29, 2022 10:15 AM
Brent crude futures for December settlement ended up $2.38, or 2.6%, to $92.41 a barrel. U.S. West Texas Intermediate crude (WTI) for November, which is expiring on Thursday, ended at $85.55 a barrel, up $2.73, or 3.3%.
Strikes End At Some Of Total Energies' French Refineries
Oct 29, 2022 10:15 AM
With an eye on the autumn school break that starts at the end of the week, members of the French government, who forced some fuel depot staff to return to work earlier this week, repeated that a back to normal situation was within reach.
Oil Prices Settle Up; China Demand Hopes Outweigh Recession Worry
Oct 29, 2022 10:15 AM
To fight inflation, the U.S. Federal Reserve is trying to slow the economy and will keep raising its short-term rate target, Federal Reserve Bank of Philadelphia President Patrick Harker said on Thursday in comments that weighed on oil.
Russia Poised To Largely Skirt New G7 Oil Price Cap
Oct 29, 2022 10:15 AM
The Group of Seven countries agreed last month to cap Russian oil sales at an enforced low price by Dec. 5 but faced consternation from main players in the global oil industry who feared the move could paralyse the trade worldwide.
Amazon.com To Invest Over 1 Billion Euros In European Electric Van, Truck Fleet
Oct 29, 2022 10:15 AM
The company did not say what percentage of its European last-mile delivery fleet is electric today, but said those 3,000 zero-emission vans delivered over 100 million packages in 2021.
Chinese EV Battery Maker CATL Expects Q3 Profit To Nearly Triple
Oct 29, 2022 10:14 AM
The company is the world's biggest battery maker and accounts for more than a third of global EV battery sales.
Musk Says Excited By Twitter Deal Despite Overpaying
Oct 29, 2022 10:14 AM
Musk, the chief executive of Tesla, was answering a question during a call after the electric vehicle maker's quarterly report. The world's richest person is pursuing the Twitter purchase after earlier trying to back out of the $44 billion deal.
ABB Reports Record Margin In Q3 As Demand Stays Strong
Oct 29, 2022 10:14 AM
The maker of industrial drives and electric ship motors said on Thursday its core operating profit margin increased by 1.5 percentage points to 16.6%, the highest since the Swiss company was founded in 1988.
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