oil companies

US Supreme Court Justice Samuel Alito will not take part in a climate case involving oil companies, Reuters reports. The recusal means the case will be decided by the remaining eight justices, which could affect the outcome if the court splits evenly. No reason was given for his decision not to participate.

US Supreme Court Justice Samuel Alito has recused himself from a significant climate case amid scrutiny over his financial holdings in oil companies. The decision removes him from deliberations on a closely watched environmental dispute. Alito has previously faced criticism over ethics and potential conflicts of interest involving stock ownership and undisclosed gifts.

Supreme Court Justice Samuel Alito has recused himself from a case that could determine the fate of climate lawsuits brought by states and municipalities against major oil companies. Without giving a reason, Alito's removal leaves eight justices to weigh whether the suits, which seek damages for climate change harms, can proceed. The outcome could reshape how oil companies are held accountable for emissions, making the case one of the most consequential climate-related matters to reach the high court.

Azerbaijan's state oil company Socar has announced it will lower fuel prices at its service stations across Italy, following a similar cut by Eni. The price reductions ease pressure on Premier Giorgia Meloni's coalition, which faces calls to impose a windfall tax on energy companies ahead of the next election.

BP is considering selling its Brazilian biofuels business, according to a Bloomberg News report picked up by Reuters. The potential divestment would mark another step in the energy major's efforts to streamline its portfolio and refocus on core oil and gas operations, though no buyer or valuation has been named and the company has not confirmed a deal.

US Supreme Court Justice Samuel Alito has recused himself from the Suncor climate liability case, stepping away from a dispute over whether oil companies can be sued for climate-related damages. The recusal leaves eight justices to weigh the matter and raises questions about his reasoning, with commentators debating what it signals ahead of rulings on corporate accountability for climate change.

CNBC's Jim Cramer highlighted a group of stocks he believes can perform well even as higher oil prices and rising bond yields put pressure on the broader market. He argued that climbing yields and energy costs typically squeeze equities by raising borrowing costs and squeezing margins, but certain companies are positioned to withstand or benefit from those conditions.