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.

Lebanon officially approves maritime border deal

Lebanon’s President Michel Aoun announced on Thursday that his country has acceptance the U.S.-brokered maritime border deal with Israel, adding talks had come to “a positive end.”

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.

Israel to allow natural gas extraction off Gaza

Israel has responded to Egyptian efforts to allow the Palestinian Authority to produce natural gas off the coast of Gaza, the Al-Monitor website reported on Sunday, a report confirmed by a PL executive committee member.

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.

Czech Energy Protests Target Government

A tense calm has returned to the Czech capital Prague after at least 70,000 people rallied against energy price hikes, the European Union, and NATO military alliance in the largest anti-government protest in years.

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