Price action was volatile. U.S. West Texas Intermediate (WTI) crude settled up 96 cents, or 1.3%, at $77.24, after earlier touching its lowest since December 2021 at $73.60.
Price action was volatile. U.S. West Texas Intermediate (WTI) crude settled up 96 cents, or 1.3%, at $77.24, after earlier touching its lowest since December 2021 at $73.60.
After rising for three straight days, Brent futures fell $1.49, or 1.8%, to settle at $81.21 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.17, or 1.5%, to settle at $76.11.
Russian Urals oil shipments to India accounted for about 40% of the total sea exports of Urals in November, not including the transit of oil from Kazakhstan, which is sold as KEBCO, Reuters calculations showed.
The plan is meant to punish Russia while at the same time keeping its vast petroleum exports flowing to energy-starved global markets to tamp down inflation.
The deadline for a deal is Dec. 5 because that is when the EU's own full embargo on purchases of Russian seaborne oil, agreed at the end of May, kicks in.
Oil rose on Tuesday on expectations for a loosening of China's strict COVID-19 controls, but concerns that OPEC+ would keep its output unchanged at its upcoming meeting limited gains.
Yoon held a video call with Tesla Chief Executive Elon Musk last week and Yoon's office cited Musk as saying South Korea is among the top candidate locations for a new Tesla factory.
Kosovo and Serbia reached a deal on Wednesday to end a nearly two-year dispute over car licence plates in northern Kosovo, which the West had warned could trigger ethnic violence, the European Union's foreign policy chief said.
A virtual meeting puts the focus on the pending European Union deal over the price cap on Russian oil, as well as a Dec. 5 deadline imposed by the bloc for a full embargo on purchases of Moscow's seaborne crude.
Stellantis is overhauling its strategy in China after agreeing to file for bankruptcy of its Jeep joint venture with local partner Guangzhou Automobile Group (GAC) in October.
India hopes to convert the current global oil challenges from the Ukraine crisis into an opportunity to secure affordable energy, Oil Minister Hardeep Singh Puri said.
The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for electric vehicles assembled outside North America, sparking anger from South Korea, the European Union, Japan and others.
The lease program will require customers to opt in for a service expected to bring monthly lease payments down by 10%, Toyota's leasing affiliate said.
VinFast, which began operations in 2019, is gearing up to expand in the U.S. market, where it hopes to compete with legacy automakers and startups with its two all-electric SUVs, the VF8 and VF9, including battery leasing to reduce the purchase price.
VinFast, which began operations in 2019, is gearing up to expand in the U.S. market, where it hopes to compete with legacy automakers and startups with its two all-electric SUVs, the VF8 and VF9, including battery leasing to reduce the purchase price.
The United Auto Workers (UAW) union called on automakers to shift their entire supply chain out of China's Xinjiang region after a new report on Tuesday suggests that nearly every major automaker has significant exposure to products made with forced labor.
The German carmaker's management and works council struck an agreement on restructuring the site in southwestern Germany, which also foresees a 20% reduction in fixed costs by 2025 compared with 2019 and workforce cuts, the report said, citing company sources.
Disruptions to the country's supply chain expanded on Thursday, the eighth day of the nationwide strike by more than 20,000 truckers, as the government prepares to order more of them back to work.
While retail has been slower to adopt automation than sectors such as autos and electronics, it has been picking-up the pace - from the introduction of basic self check-out tills in stores to the use of robots and AI in supply chains.
