Europe's EV Sales Jump 51% As Iran War Sends Gasoline Prices Soaring

Morgan Stanley: Oil Traders Are "More Precise" With Risk As Wars Drag On By Michael Kern of OilPrice.com Uncertainty about how the wars in Iran and Ukraine will unfold is keeping many traders away from taking positions in longer-dated futures contracts, according to Morgan Stanley. Most traders have now moved to bet on futures prices within a three to six-month period, instead of longer-dated futures contracts, as volatility has spiked and uncertainty has grown regarding where the wars are going and how much they would continue to impact the global oil market. “People...

"Doesn't Look Good": Explosion Rocks Major New Orleans-Area Refinery As Fuel Markets Tighten A fire broke out Friday afternoon at PBF Energy's Chalmette refinery outside New Orleans, according to the facility. Reuters cited people familiar with the incident who said the 190,000-barrel-per-day Chalmette refinery suffered an explosion on Friday afternoon. The explosion can be traced to a reformer heater used to convert refining byproducts into octane-boosting components added to unfinished gasoline to make premium and mid-grade fuel blends. The 190,000-barrel-per-day refinery is one of the major Gulf Coast refineries because it produces...

Greta At French School Riot: "Our Future Is Being Robbed From Us" Greta Thunberg joined high-school students outside the Paul Éluard lycée in Saint-Denis, north of Paris, on Tuesday, applauding hundreds of teenagers protesting run-down schools, the Associated Press reported. Staff and students at the school have long complained of dilapidated buildings and rat infestations, AP said. The Interior Ministry put Tuesday's turnout at 161,500 nationwide, 41,500 of them in Paris. AP also reported that a 15-year-old lost a hand during the unrest and that the interior minister has suspended one...