Brent crude and WTI: Oil prices fall as hope over production cut fades January 29, 2016 Oil prices wavered today, as soaring oil output coincided with dampened optimism around a possible production cut from some of the world's biggest producers, the Organization of the Petroleum Exporting Countries (Opec) and Russia. Brent crude, the global benchmark, fell 0.35 per cent to $33.77 per barrel, after ending 2.4 per cent higher yesterday. West Texas Intermediate, the US [...]
If a nuclear deal is reached, Iran will be bursting with investment opportunities – here’s what to look out for June 23, 2015 By the 30 June, Iran must have come to an agreement with other world powers on curbing its nuclear programme in return for an easing of economic sanctions. Read more: What's Iran doing to make everyone think it's trying to build a weapon? Currently, key sectors including energy and finance are crippled by an inability to [...]
Halliburton to slash 5,000 jobs under pressure from low oil prices February 25, 2016 Halliburton announced today it is to slash 5,000 jobs, cutting its workforce by eight per cent, in a bid to withstand the prolonged weak oil market. The oil services company has already reduced global headcount by 25 per cent – almost 22,000 employees – since 2014. The price of the black stuff has plummeted since June [...]
Brent and US crude oil prices shrug off yesterday’s turmoil January 5, 2016 Oil prices stabilised today, shrugging off yesterday's volatile trading – but fears over a supply glut kept a lid on prices. Brent crude, the global benchmark, was down 0.35 per cent at $37.09 per barrel in morning trading, while West Texas Intermediate, the US benchmark, shed 0.33 per cent at $36.64. Oil prices yo-yoed yesterday, driven by an escalating diplomatic [...]
Brent crude and WTI: IEA says oil prices might have bottomed out March 11, 2016 Oil prices could begin to trend upwards, as high cost US shale gas producers halt production and Iran makes an unexpectedly slow return to the market, the International Energy Agency (IEA) said today. The IEA now expects non-Opec output will fall by 750,000 bpd this year, more than its previous estimate of 600,000 bpd. US production alone would decline by 530,000 bpd in [...]
Piercing the bitcoin veil: Businesses should beware the risks of trading with a sanctioned entity February 3, 2016 In January the EU and the US lifted economic and financial sanctions against Iran in a ground-breaking deal that unfroze billions of pounds of assets and opened up new markets for the first time since 2010. Despite the fanfare surrounding the deal, in the small print a warning remains: some EU and US financial sanctions [...]
Before the bell: What you need to know before the US market open June 2, 2016 The European Central Bank (ECB) and the Organization of the Petroleum Exporting Countries (Opec) are both in Vienna today to decide on their respective policies and could add an extra kick of volatility to global markets. Here's what you need to know before the market open at 14:30 London time. US futures are struggling ahead of the opening bell. [...]
Latin American oil producers push back early meeting on output freeze March 10, 2016 Latin American oil producers have postponed a meeting due tomorrow, where they would have coordinated support for an output freeze or other measures to bolster low oil prices. Scheduling difficulties mean the meeting between Venezuela, Colombia, Ecuador and Mexico will now take place at the end of this month or the beginning of April. "One of the problems [...]
EU referendum: President Barack Obama makes plea to Britain to Remain in EU as it enhances UK’s influence and helps economic growth “in line with values” April 22, 2016 The European Union magnifies British influence and global leadership, President Barack Obama has said in a passionate appeal to the British people ahead of the all-important EU referendum. Concerned about the prospect of Brexit, the president said that when it comes to creating jobs, trade and economic growth in line "with our values, the UK [...]
Oil price nervous ahead of Opec mid-March meeting February 28, 2016 The oil price is set for another rocky week as tensions build ahead of a second round of historic talks to cap output levels. The Saudi Arabia led Organization of the Petroleum Exporting Countries (Opec) has been negotiating a deal with non-Opec Russia to freeze oil production at January levels and will meet again in mid-March. [...]