Biden announces release of 15 million barrels of emergency reserve oil

President Joe Biden has announced he will release 15 million barrels of oil from America’s emergency Strategic Petroleum Reserve, a move analysts say is intended to show voters in next month’s midterm elections that he is concerned about high gas prices, USA Today reports.

Fire, Shootings At Iran Prison Kills Four

A fire at one of Iran’s most notorious prisons where Christians and political activists are among inmates has killed at least four people and injured 61 others, Iranian authorities acknowledged Sunday.

Russia Furious Over UN Condemning Ukrainian Annexation

Russia has expressed anger that the United Nations general assembly condemned its annexation of Ukrainian territories and warned that admitting Ukraine into the NATO military alliance would lead to World War III. The statements came as Ukraine’s state emergency service said it is actively searching for people trapped under rubble after another Russian strike in the country’s south, while Turkey sought an opening for peace talks.

Egypt to take over development of Gaza’s off-shore gas field

There are plans in the making for Egypt to take over the development of Gaza’s offshore natural gas field, a move that would stimulate the weak Palestinian economy, i24 News reports. The Gaza Marine field is believed to hold over 1 trillion cubic feet of natural gas, well over what is needed to supply Palestinian territories, and could therefore be a potentially lucrative source of export.

NATO to Hold Nuclear Exercise Despite Russian Warnings

NATO will push ahead with long-planned nuclear exercises next week despite rising tensions over the war in Ukraine and President Vladimir Putin’s insistence that he is not bluffing about using all available means to defend Russian territory, NATO Secretary-General Jens Stoltenberg said Tuesday.

IMF: “worst is yet to come” in global economy

The International Monetary Fund (IMF) has forecast the “worst is yet to come” economically as it predicts a third of the global economy will contract in 2023, facing two consecutive quarters of negative growth, Sky News reports. The IMF made its predictions in its latest World Economic Outlook report.

US strikes in Syria kill top ‘IS’ leaders

The deputy leader of the so-called “Islamic State” in Syria and a senior weapons smuggler were among the targets killed in a pair of military operations in Syrian-government controlled areas in the country’s north.

OPEC+ announces major cut in global oil supplies

OPEC+ has announced a significant cut in global oil supplies ahead of European Union embargoes on Russia energy and in time for the peak winter season, Reuters reports. Exacerbating concerns about soaring inflation, the move is expected to push up the price of gasoline again.

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