Latest Oil and gas industry News

Asian shares rally after Wall Street logs rare winning week

Jun. 27, 2022 02:03 AM EDT

BANGKOK (AP) — Asian shares advanced Monday after Wall Street ended a rare winning week, capped by a 3.1% gain on Friday for the benchmark S&P 500. U.S. futures and oil prices also were higher. Optimism over China’s progress in controlling coronavirus outbreaks, as schools...

Sri Lanka sends 2 ministers to Russia for oil amid crisis

Jun. 27, 2022 01:44 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka is sending two ministers to Russia to negotiate for fuel — one of the necessities that the Indian ocean island nation has almost run out of amid its ongoing economic crisis. Power and Energy Minister Kanchana Wijesekera said two ministers are...

Ecuador president cuts gasoline price amid Indigenous strike

Jun. 27, 2022 00:24 AM EDT

QUITO, Ecuador (AP) — Ecuadorian President Guillermo Lasso announced a cut in gasoline prices Sunday that appeared to fall short of the reduction demanded by Indigenous leaders to end a strike that has paralyzed parts of the country for two weeks. The reduction cuts the price of...

Biden urges Western unity on Ukraine amid war fatigue

Jun. 26, 2022 16:41 PM EDT

ELMAU, Germany (AP) — President Joe Biden and Western allies opened a three-day summit in the Bavarian Alps on Sunday intent on keeping economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russia’s aggression. Britain’s Boris Johnson warned the...

Average US gasoline price drops 4 cents to $5.05 per gallon

Jun. 26, 2022 16:15 PM EDT

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline fell by 4 cents per gallon in the past two weeks to $5.05 for regular grade, it was reported Sunday. It was the first drop in nine weeks and came with a drop in oil prices amid deepening global inflation...

Live updates | G-7 nations seek to counter Chinese influence

Jun. 26, 2022 15:28 PM EDT

ELMAU, Germany (AP) — The Latest on the G-7 summit, the annual meeting of the leading democratic economies, which this year is being held in Germany's Bavarian Alps: One Group of Seven family photo didn’t seem to be enough. After posing for a group shot earlier...

Did corporate greed fuel inflation? It's not biggest culprit

Jun. 26, 2022 09:27 AM EDT

WASHINGTON (AP) — Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits. Responding to that sentiment, the Democratic-led House of...

State launches $463 million project to elevate La. 1

Jun. 25, 2022 10:54 AM EDT

GOLDEN MEADOW, La. (AP) — State leaders have broken ground for a $463 million project that will elevate 8.3 miles of La. 1, one of the state's hurricane evacuation routes. The groundbreaking held Friday is for work that will be done between Golden Meadow and Leeville, The Advocate...

Egypt’s president holds talks with visiting Qatari emir

Jun. 25, 2022 10:33 AM EDT

CAIRO (AP) — President Abdel Fattah el-Sissi of Egypt held talks Saturday with Qatar’s emir, Sheikh Tamim bin Hamad Al Thani, who visited Cairo for the first time in years. The talks focused on ties between the two nations and a set of other regional and global topics, including...

Gas prices down in NJ, around the nation as oil prices fall

Jun. 25, 2022 09:48 AM EDT

TRENTON, N.J. (AP) — Gas prices are falling in New Jersey and around the nation due to lower crude oil prices and decreased demand. AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $4.94, down eight cents from last week. Drivers were...