Oil price opec today

The price of olive oil will increase by as much as 25pc within months, one of the UK's largest supermarket suppliers has warned, as the heatwave in Spain hammers production. Extra virgin olive oil was already 7.3pc more expensive in July compared to June, according to the Mintec benchmark prices, but is set to go even higher as supermarket contracts come up for renewal. Major supplier Acesur, which sells 20,000 tonnes of olive oil in the UK every year, said that price increases for customers could range between 20pc and 25pc. It said the heatwave across Europe had a "drastic" effect on Spain's olive oil production. The price rise is expected to come through when new contracts are agreed in the next three to four months, according to the BBC. Spain is responsible for around half of the global production of olive oil, making 1.4m tonnes a year. Acesur said the current forecasts were for this to have dropped to 1m this year. The heatwave has been sweeping across the … [Read more...] about Price of olive oil to rise by as much as 25pc

Good evening. The Tuesday, August 9 edition of Today in Slovakia is ready with the main news of the day in less than five minutes. SaS takes pensions into its own hands SaS MP Anna Zemanová, SaS MP Marián Viskupič, SaS chair Richard Sulík, and SaS MP Peter Cmorej announce the submission of the party's constitutional bill on pensions to the parliament at a press conference in Bratislava on August 8, 2022. (Source: TASR) Because the government has not stepped up and submitted a constitutional bill concerning pension reform to the parliament, the SaS party decided to do it on its own. Skryť Remove ad Article continues after video advertisement Skryť Remove ad Article continues after video advertisement Members of the party put the bill forward on August 8, hoping to set the new basic rules for the management of the country's pension system, shift thousands of savers from poorly-performing bond funds in the … [Read more...] about News digest: Disinformation media returns after a forced break

The Senate has passed the Democrats ' mega climate, health care and taxation bill along party lines and after much griping from Republicans . "The Green New Deal Democrats are coming straight after American natural gas with huge tax hikes," Minority Leader Mitch McConnell (R-KY) said of the bill last week. "The result will be higher electricity bills, higher heating costs, less exporting to our European allies." Senator McConnell has a point: The Inflation Reduction Act's emphasis on solar and wind energy seems misplaced and rife for profiteering by Wall Street and its allies. And yet, to call this bill a representation of "Green New Deal Democrats" is false. The opposite: There bill represents a promising shift away from the hysteria over the "climate catastrophe" and toward more reasonable and effective policies. The Breakthrough Institute's Alex Trembath points out that the bill take a far more "pragmatic approach" than the much larger and more radical Green New … [Read more...] about The Democrats’ new climate bill abandones green zealotry—for reason | Opinion

By Karen Hoggan Published 22 minutes ago Share close Share page Copy link About sharing Energy bills for a typical household could hit £4,266 next year, consultancy Cornwall Insight has warned. The higher estimate means the average household would be paying £355 a month, instead of £164 a month currently. Cornwall cited regulator Ofgem's decision to change the price cap every three months instead of six and higher wholesale prices for its high forecast. But Ofgem said no forecast for next year could be "robust" at this stage and had "limited value". The latest price cap - the maximum amount suppliers can charge customers for average energy usage in England, Scotland and Wales for October - is due to be announced at the end of this month. Cornwall expects this to rise to £3,582 a year, compared to the regulator's prediction of £2,800 a year . Dr Craig Lowrey, … [Read more...] about Energy bills forecast to hit over £4,200 a year

More than 115,000 Royal Mail staff have voted in favour of a national strike in what could be the first in a wave of public sector walk outs in the coming months as essential workers continue to struggle with the cost of living crisis. In a ballot announced today, the Communication Workers Union (CWU) – which represents Royal Mail Group workers – voted by 97.6%, on a 77% turnout, to take industrial action. The union is demanding that Royal Mail group enters into negotiations to secure 'a straight, no-strings pay increase for workers.' The Royal Mail said it was 'disappointed' by the strike announcement after offering workers a 5.5% salary boost. It comes as the Government geared up for a hot summer and autumn fight with trade unions today as it offered two million public sector workers including doctors and nurses below-inflation pay rises. More than a million NHS staff including nurses, midwives and paramedics have been offered increased that will see the worst-paid … [Read more...] about More than 115,000 Royal Mail workers vote for strike action in row over pay

Good evening. With green spaces turning brown in exceptionally dry weather (such as Blackheath, below), another hosepipe ban is coming. Yet thoughts are turning to winter with dire new energy price fears. Evening briefing: Today's essential headlines Hosepipe bans | Another day, another extreme weather alert. As the Met Office issued a four-day amber warning for heatwave conditions in parts of England and Wales, Thames Water announced it is planning to introduce a hosepipe ban "in the coming weeks" in the face of the long-term forecast. Check on the details of restrictions in your area . The UK is not alone in experiencing water shortages. Our correspondents based around Europe report on the "most serious" drought on record . Ukraine | Explosions heard near Russian military airfield in Crimea Ryan Giggs trial | Ex-footballer had eight 'full-on' affairs, court hears Paul O'Grady | Star quits BBC Radio 2 after being forced to share slot New … [Read more...] about Tuesday evening news briefing: Dire new energy forecast

Leave your questions for Thursday night's Telegraph hustings in the comments Truss tax cuts 'will do nothing for pensioners' Death of high street looms, hopefuls warned Where Truss and Sunak stand on key issues Check the latest live Tory leadership odds Sign up to our Politics WhatsApp group L iz Truss's planned tax cuts alone are "not much good", Rishi Sunak has warned as he said the party risked electoral oblivion in 2024 without providing direct support. At tonight's fifth Conservative leadership hustings in Darlington, Mr Sunak has suggested he would commit tens of billions to tackling the cost-of-living crisis, while Ms Truss is yet to be drawn on whether she would provide any direct payments to Britons. "The only way to help [people] is with direct support," the former chancellor insisted. "Because tax cuts alone are not much good if you're a pensioner if you're not earning any extra money, they're not much good if you're working hard on … [Read more...] about Tory leadership hustings: Rishi Sunak warns Liz Truss’s tax cuts alone are ‘not much good’

By Simon Read Published 36 minutes ago Share close Share page Copy link About sharing Many households are falling behind on energy payments with total debt owed three times higher than in September last year, a survey has suggested. Almost a quarter of households owe £206 on average, according to comparison site Uswitch, which surveyed 2,000. Uswitch advised people falling into debt to speak to their provider to work out a more affordable payment plan. The data comes as consultancy Cornwall Insight warned energy bills could rise much higher than thought in October. The consultancy also expects bills to increase much more sharply in January, with the average household paying £355 a month, instead of £164 a month currently. Citizens Advice said it has helped more than 47,000 people with energy debts so far this year. The average debt amount was more than £650, the … [Read more...] about Households already in debt as energy bills rise

Ukraine’s President Volodymyr Zelenskyy urged the EU heads to give Ukraine candidate status for the bloc's membership at the upcoming summit in late June. Speaking to the Copenhagen Democracy Summit in a video address, Zelenskyy asked the leaders of the 27 member states to show “that its words about the Ukrainian people being part of the European family aren’t a hollow sound.” Review the day's most important developments in the Ukraine war below. 06.10.2022 06:54 Friday's key points: Mariupol’s mayor has warned that cholera and other deadly diseases could kill thousands of people in the Russian-occupied city as corpses lie uncollected. President Zelenskyy has pleaded for Ukraine's entry into the European Union, and called for EU leaders not to leave his country in a "grey zone". Ukraine is losing up to 200 troops a day, according to a Zelenskyy aide. This is more than double the previous estimates. Two Britons and a Moroccan national … [Read more...] about Zelenskyy calls for more support from Europe, Ukraine’s EU candidacy

By Adam Durbin & Paul Seddon Published 1 hour ago Share close Share page Copy link About sharing Related Topics Tory leadership Ministers will hold talks with energy giants on Wednesday morning to discuss measures to ease the cost of living. Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng will meet bosses to discuss rising prices and the sector's profits, The Sun reported . Concerns over what will happen this winter come as figures suggest many households are already in energy debt. Tory leadership candidate Liz Truss dismissed calls to agree immediate plans to help those struggling. She told a hustings in Darlington it would be "bizarre" to discuss potential policies with her rival Rishi Sunak and outgoing Prime Minister Boris Johnson before the contest ends. Yet new figures from comparison service USwitch laid bare the challenge facing … [Read more...] about Ministers to meet energy giants over cost of living