A subsidiary of Indian billionaire Kumar Mangalam Birla's group has obtained about $1.5 billion of acquisition financing from Mitsubishi UFJ Financial Group (MUFG) to acquire Shell's renewable energy assets in India.

HASSETT, director of the White House National Economic Council, said lowering gasoline prices to $3/gal is realistic.

Kpler said Ukrainian drone attacks have reduced Russian refinery throughput to a 21-year low of about 3.8 mln bpd. The firm expects Q3 refinery runs to remain subdued, with only limited recovery as ongoing strikes and repair work constrain operations. Cumulative damage has sharply raised offline capacity: as of mid‑July roughly 4.3 mln bpd of capacity was offline or affected, about 58% of Russia’s refining capacity, and an estimated 1.5–2.0 mln bpd of processing capability is fully out of operation. Kpler forecasts a modest rebound to around 4.3 mln bpd in August as maintenance eases, but says continued drone attacks pose significant downside risk.