Oil price yo-yos back up as the latest US stockpiles show a surprise fall April 6, 2016 The oil price has bounced today after stockpiles in the US showed a shock decline, despite investors expecting a new record high. The oil price is up today by around five per cent, with international benchmark Brent crude trading at $39.77, while US oil hit $37.96. The US Energy Information Administration (EIA) reported that stocks of [...]
Two cheers for Obama’s historic Iran nuclear deal July 14, 2015 During my decade working in Washington, those who survived and thrived in the shark tank – regardless of ideology – tended to have one thing in common: an eerie sixth sense for which power-brokers were in it for themselves, and for that treasured minority who were involved in politics for the greater good of the [...]
EU referendum: Michael Gove says it’s government policy for Turkey to join EU June 8, 2016 Justice secretary Michael Gove has made the security argument for Brexit, pointing to Turkey's hypothetical accession to the EU as a reason to vote for the UK to leave the EU. Speaking at a Vote Leave event, Gove said it was both British and EU policy for Turkey to become a member of the EU. However, [...]
As North Korea hails him as wise and far-sighted, does Donald Trump pose a threat to world peace? June 2, 2016 Chad Wilcox, chief operating officer at the Institute of Economic Affairs, says Yes. Donald Trump certainly poses a threat to world peace, though not for the reasons you might initially think. Libertarian political satirist PJ O’Rourke endorsed Hillary Clinton purely out of fear of Trump, warning, “they’ve got this button, you know? It’s in a briefcase. [...]
Slowing US oil stocks fail to prop up prices March 30, 2016 Oil prices failed to hold on to gains yesterday after rising on the latest data from the International Energy Agency (IEA), showing US crude inventories rose less than expected over the last week. Brent prices initially jumped to $40.54 a barrel in early afternoon trading but by the evening had dropped to $39.27. US benchmark [...]
Brent crude and WTI prices: European markets won’t be hit by a flood of Iranian oil anytime soon March 8, 2016 The sustained oil sell-off was one of the biggest shocks of 2015, and it also looks set to be one of the defining characteristics of the global economy in 2016. So it's easy to understand the panic when economic sanctions on Iran were lifted, allowing the country to export oil again, and adding yet more crude [...]
Opec’s June meeting is likely to be another dud May 12, 2016 After a dismal performance in Doha last month, it looks like Opec's meeting in June is going to be another dud. The Organisation of Petroleum Exporting Countries (Opec) and non-Opec producers failed to agree a widely anticipated freeze deal at a meeting in April. The split between long-term regional rivals Iran and Saudi Arabia prompted accusations that [...]
Foreign secretary Philip Hammond says first sanctions against Iran could be lifted early next year August 24, 2015 Foreign secretary Philip Hammond has announced that the first sanctions against Iran could be lifted as soon as early next year. Read more: British embassy paves the way for new business opportunities in Iran The comments came as Hammond visited Iran to reopen the British embassy in Tehran. The Iranian embassy in London has also been [...]
Brent crude and WTI: Oil shrugs off earlier losses to head towards $40 March 31, 2016 Oil prices reversed earlier losses to veer higher today, inching towards $40 per barrel in late afternoon trading. Brent crude, the global benchmark, swelled 0.8 per cent to $39.56 per barrel. However, West Texas Intermediate crude, the US benchmark, edged down 0.2 per cent to $38.26. Read more: What $20 per barrel oil would mean for [...]
Brent crude and WTI: Oil prices set for third weekly gain as IEA sparks optimism March 11, 2016 Oil prices were heading for their third weekly gain today, after a top energy organisation said the worst could be over for the black stuff. Brent crude, the global benchmark, rose 1.1 per cent to $40.5 per barrel in late afternoon trading. Meanwhile, West Texas Intermediate crude, the US benchmark, added 1.4 per cent to $38.37. It comes [...]