Auto Industry News

Oil prices fell about 1% to a near two-week low in volatile trade after the U.S. Federal Reserve delivered another hefty rate hike to quell inflation that could reduce economic activity and demand for oil.

Oleg Ustenko criticized updated European Union guidance on sanctions on Russian coal shipments that he said could enable companies to transport Russian coal to third countries, which was not in the original spirit of the deal.

Democratic and Republican senators proposed that U.S. President Joe Biden's administration use secondary sanctions on international banks to strengthen a price cap G7 countries plan to impose on Russian oil over Moscow's invasion of Ukraine.

Vianode will invest 2 billion Norwegian crowns in building a large-scale plant for sustainable battery materials in Norway.

Indian refiners are set to skip purchases of Russia ESPO crude oil this month due to higher freight rates.

The European Union is looking at an oil price cap, tighter curbs on high-tech exports to Russia and more sanctions against individuals.

Oil settled nearly 1% higher paring earlier gains as the market focused on Russian oil supply concerns.

Earlier this month the Delhi Traffic Police had announced that all commuters travelling in a car will have to wear seatbelts both at the front and back, and the offenders will be charged a fine of Rs. 1,000.